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Business & Finance
Home Equity and Refinancing
How long after a short sale can you buy another house?
Can you short sale your house if you have two mortgages?
Asked in Home Equity and Refinancing, Foreclosure
Do you have to live in the house to do a short sale?
Asked in Mortgages, Wills
Can you short sale a house that is left to you in a will?
Can you short sale your house to your spouse?
A short sale must be approved by the lender. It will not approve your proposal. A short sale must be approved by the lender. It will not approve your proposal. A short sale must be approved by the lender. It will not approve your proposal. A short sale must be approved by the lender. It will not approve your proposal.
Asked in TV Shows and Series, Reality TV Shows
What are the release dates for House Hunters - 1999 Short Sale in Sacramento?
If i short sale a house how long do i have to wait to purchase a dwelling?
If you short sale a house you don't have to wait any specific amount of time to purchase a dwelling. It does mean that the interest rate on the new mortgage could be higher than normal, or it may be more difficult to purchase a new dwelling due to the poor credit score resulting from the previous short sale.
Is it legal to buy a house from a relative - by short sale?
Asked in Foreclosure
How long will you credit be messed up if you are doing short sale?
Asked in Foreclosure, Real Estate
Can a family member buy a short sale property from another family member?
Is it better to short sale a house or refinance to get credit in good standing?
It's better to refinance. A short sale will reflect negatively on your credit record. It's better to refinance. A short sale will reflect negatively on your credit record. It's better to refinance. A short sale will reflect negatively on your credit record. It's better to refinance. A short sale will reflect negatively on your credit record.
Asked in Mortgages, Home Equity and Refinancing
What happens if house burns down while the house is on short sale procedure?
Asked in TV Shows and Series, Reality TV Shows
What are the release dates for House Hunters - 1999 First Time Buyers Seek Short Sale in Sacramento?
Asked in Credit Reports, Debt Collection, Foreclosure
How long does a short sale affect your credit?
Iam bout to lose my house soon, getting divorce!. is it recommended to do a short sale? I am concerned about 1099-C taxes I have to pay to IRS and how bad my credit will be if I want to get a cheaper property later on. does enybody know how much afeccts short sales, is it better than a foreclosure! Thanks
What is house short sale?
In the real estate industry short sale initiates when the borrower is in financial crises and unable to pay the mortgage amount. In case of a short sale, property is sold to a third party (not the bank) and the proceeds from the sale go to the lender. After the sale of property the lender can opt for recieving the diffieciency amount or may forgive it. In many states is hould be forgiven leagally.
Should I short sale my house or wait for it to be auctioned?
This depends on your ultimate goal. A short sale is less detrimental to you credit, but will still likely keep you from buying another home for 2-3 years. Often times short sales become foreclosures because the homeowner stopped paying the mortgage loan payments and the short sale took too long. A foreclosure hits your credit harder, but may allow you to stay in the home for just as long or in some cases longer. Additionally, you can negotiate a "cash-for-keys" deal with the lender or new owner where you leave the property in good condition on a specified date in exchange for money for relocating costs.
How can you sell your house in a short sale and still file bankruptcy?
Bankruptcy is simply having debt beyond what you can pay. A short sale would have nothing to do with it. When you sell short, you leave the deal with nothing. No profit, no cash from the sale. Also, a lender would not even approve the short sale unless they are satisfied that you are 'upside down' each month and have no savings or other assets with which to pay the mortgage.
Can you get a short sale all the time?
A short sale is most often using when a homeowner is facing foreclosure. If the amount offered by a potential buyer of your house is less than the amount you owe your lender, you can ask the lender to accept the offered amount as payment in full. The lender does not have to agree to accept a short sale. They may elect to go ahead with a foreclosure because of other liens on the property (such as 2nd mortgages.) You can request a short sale by submitting a short sale hardship letter to your lender.
Asked in TV Shows and Series
What are the release dates for Property Virgins - 2006 Short Sale for the Long Run?
Asked in Mortgages, Foreclosure
How long do I have to wait to buy a house after a short sale?
Congratulations on your shortsale! It will take some time for your FICO to recover, but you should be able to obtain a loan in a couple of years. Pay all of your debts on time; start saving for 20% down on another house and get your financial house in order. Then, apply for a loan and see what you can do. Mind you, many houses for sale today have deferred maintenance, and you may end up spending several thousand to bring yours up to par.
Asked in Mortgages
What is a short sale of a house?
A Short Sale is when a servicer of the mortgage, the lender, takes less than what is owed on the mortgage, a shortage. For a Short Sale to even take place, someone must be getting "shorted." In this case, it would be the lender who services the mortgage(s). Typically, a Short Sale arises when a homeowner is behind on mortgage payments and owe more on the property than what it is actually worth, which means it is "upside down."