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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.
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How do you get out of a second mortgage when the house has been sold on a short sale?
How do you get out of a second mortgage when the house has been sold on a short sale?
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.
How long after a short sale can you buy another house?
In the United States, you will need to wait three years after a short sale in order to buy another house. This is per the Federal Housing Administration.
Can you short sale your house if you have two mortgages?
Yes you can. I am currently purchasing a short sale house from people that had a 20/ 80 loan with two banks. It has been very long and tough but it can definetly be done!
Is a foreclosure a valid reason for a short sale?
A short sale is a sale where the buyer's offer comes up "short." If you're selling your home and you receive an offer that is less than you owe on your house, you've sold it short. It can appyl to a homeowner you wants to get rid of their house, even at a loss. More typically, it used when a homeowner is facing foreclosure. A homeowner with a buyer who offers less than the amount owed on their house can approach the lender requesting they accept the short sale rather than foreclose. The lender is under no obligation to accept a short sale. If you don't have a buyer, you should ask your lender to consider a "deed in lieu." With this option, you're asking the lender to accept the deed to your house instead of (in lieu) of foreclosing. A REALTOR can help you with a short sale. Because there is often little or no commission involved with a deed in lieu, you should speak with an attorney. You can find one through a local bar association lawyer referral service. Usually, they offer a discounted initial consultation.
How do you get out of a second mortgage when the house has been sold on a short sale?
How do you get out of a second mortgage when the house has been sold on a short sale?
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.
Do you have to live in the house to do a short sale?
You do not need to live in the house to complete a short sale. In order to qualify for the HAFA short sale you would need to of lived in the property within the last 12 months.
Can you short sale a house that is left to you in a will?
That is up to the lender.
What are the release dates for House Hunters - 1999 Short Sale in Sacramento?
House Hunters - 1999 Short Sale in Sacramento was released on: USA: 14 March 2010
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.
How long after a short sale can you buy another house?
In the United States, you will need to wait three years after a short sale in order to buy another house. This is per the Federal Housing Administration.
Can i still file bankruptcy if my home is schduled for sheriff's sale?
It depends somewhat on your state law regarding foreclosure sale, but as a rule, you can save your house from being auctioned by filing bankruptcy. Whether you can keep the house depends on a lot of other considerations. Consult a local bankruptcy lawyer.
Can you short sale your house if you have two mortgages?
Yes you can. I am currently purchasing a short sale house from people that had a 20/ 80 loan with two banks. It has been very long and tough but it can definetly be done!
Is a foreclosure a valid reason for a short sale?
A short sale is a sale where the buyer's offer comes up "short." If you're selling your home and you receive an offer that is less than you owe on your house, you've sold it short. It can appyl to a homeowner you wants to get rid of their house, even at a loss. More typically, it used when a homeowner is facing foreclosure. A homeowner with a buyer who offers less than the amount owed on their house can approach the lender requesting they accept the short sale rather than foreclose. The lender is under no obligation to accept a short sale. If you don't have a buyer, you should ask your lender to consider a "deed in lieu." With this option, you're asking the lender to accept the deed to your house instead of (in lieu) of foreclosing. A REALTOR can help you with a short sale. Because there is often little or no commission involved with a deed in lieu, you should speak with an attorney. You can find one through a local bar association lawyer referral service. Usually, they offer a discounted initial consultation.
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.
What are the release dates for House Hunters - 1999 First Time Buyers Seek Short Sale in Sacramento?
House Hunters - 1999 First Time Buyers Seek Short Sale in Sacramento was released on: USA: 4 April 2010
