short sale
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Short Sale vs Foreclosure
Asked by C.B. from Providence
on July 7, 2009
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I recently requested a short sale to the bank tgaty loan has defaulted. The idea was to attempt to not have a foreclosure on my credit. I just got a form saying that i...
Answers
- Hi C., I am a Realtor in Maine, if you are successful in getting a shortsale offer, yes you are responsible for the difference. If you can not pay it (and usually peop...
- C., I work as a real estate paralegal... and NO you do not have to pay the difference on a short sale. What happens is you place the house on the market and the bank ...
- HI C., Listen to Kelly!!! and here is a website to learn more of what you are about to do... good luck! http://homebuying.about.com/od/shortsale/Short_Sale.htm ...
Short Sale Experience
Asked by L.F. from Los Angeles
on April 8, 2009
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i am just wondering if anyone out there has had to do a short sale and how it has impacted them.
Answers
- Hi L., My husband and I did a short sale last year and there was a lot of work involved. The lender (Wells Fargo) took an eternity to approve the offer. I think that ...
- What is a "short sale"???? maybe if you tell us, someone may know about this?
- My husband and I have just decided to short sell our condo. The 2 biggest impacts are 1) to your credit and 2)to your taxes next year. The credit impact can be up to...
Financial Decisions on Short Sales
Asked by J.B. from Dallas
on March 16, 2008
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I'm about to do a short sale on my home and have heard about the Debt forgiveness Act that Bush just signed in Dec. 2007. Does this include short sales or just forclos...
Answers
- We also did a short sale on our home and our understanding from our mortgage company was that it does include the short sales as well..Our mortgage company was going t...
- Julie, It is for both, but your income may be a factor. Check with an accountant about your income.
- Hi Julie, The debt forgiveness act applies to the short sale and forclosure. Do a quick search on google and you can find all of the requirements to qualify, not th...
