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If you do a Short Sale in the State of New York do you have to pay back the difference of what you owe after the short Sale?
Wiki User
∙ 14y ago
The state you reside in has nothing to with whether or not you will have to pay back the difference of what you owe in a short sale. Whether or not you have to sign a note and pay back the debt is up to the lender.
Wiki User
∙ 14y ago
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Can lender pursue deficiency judgment for the difference after a short sale?
Some states allow deficiency judgments after the short sale. Some states allow deficiency judgments after repossession or foreclosure. Each state has its own rules.
Is a short sale public record?
is a short sale on public records
Where can I find a price on a short sale?
Many realtors will sell a house as a short sale. However a short sale has to be approved by the bank first.
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.
Can you purchase a short sale with an fha loan?
Yes, you can purchase a Short Sale with an FHA loan. There are no restrictions on the type of financing in the purchase of a short sale.
How long will you credit be messed up if you are doing short sale?
A short sale is an option when a property owner is not able to afford the obligations of a loan. The amount of time a short sale is on a credit report can be answered by a lawyer who is assisting in the short sale. A short sale may hinder future loans.
What is the difference between a foreclosure and short sale?
A foreclosure is the surrender of the property to the lien holder for nonpayment of the debt. A short sale is the sale of the property before the completion of the foreclosure in an attempt by the home buyer and the lender to avoid foreclosure proceedings.
What is difference between foreclosure and short closure of contract?
A short closure of contract is typically called a short sale. In a short sale, the owner works with the bank to sell the property at a price less than the market value. The goal is to get as much of the loan paid as possible. The owners owe the bank the difference between the sale price and the loan amount whereas in a foreclosure the buyer just walks away and owes much more.
Buyer's short sale savings?
Short sale is a great option for investors who want to make some money. If they make a smart purchase of a short sale home they can earn a huge profit. But, they need to be very careful when buying a short sale.
What does ssa stand for in real estate listings?
Short Sale Advisory ~ or Short Sale Addendum
What happens to your credit on a short sale?
A short sale will have a detrimental affect on your credit record but not as bad as a foreclosure.
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.
