Lets say I can only sell my house for k less than what I currently owe, but the house I want to buy in another market is on sale for 90k and the value estimate is 110k. Is this workable? I dont want to short sale. Technorati Tags: short sale, value estimate
Short Sales, Foreclosures, and Credit Damage For borrowers with a foreclosure, short sale, or deed in lieu of foreclosure on their credit history, the following time lines apply before they’ll be eligible for a conforming, conventional mortgage (Fannie Mae/Freddie Mac): · Foreclosure: 5 years from completion date, minimum 680 FICO with a minimum 10% down payment [...]
Why should you choose a short sale? If a foreclosure is inevitable there aren’t many options available for a distressed homeowner. At this point it’s all about limiting credit damage and a new start to financial recovery. One of the most popular options is a short sale. Because of the current housing and economic cirsis, short sales [...]
Short Sales are a complicated and confusing real estate transaction for homeowners. One of the keys to closing a short sale is having an immediate offer to begin the process. We have a list of common short sale FAQs to clear up some issues for homeowners. We also have a tip on how to get an immediate offer [...]
I have to sell my house and it is worth less than what I originally paid for it. Should I borrow the K to complete the sale (and subsequently write off the loss on my taxes) or should I try to negotiate a short sale with the bank? Technorati Tags: short sale
The market in my area shows that there are similar houses selling for 100k less than what I bought 1.5 years ago. Can I just give it back to the bank? what are my options..