The saleâ€™s proceeds, even though less than what is owed on the mortgage, completely satisfy the debt. This should provide some peace of mind to homeowners in states that allow deficiency judgments, as they are assured that they wonâ€™t be liable for the deficiency amount in the future. More at
A small play pool could cost you around $22,000.00 - $25,000.00. If you wanted a lap pool, it could be considerably cheaper depending on your likes, i.e. pool equipment, heater, etc.
Best of luck!
O48 Realty... more
I recommend contacing an attorney first however as for my personal opinion It all depends on your current financial situation. You have many options:
1) The real estate is bouncing back and it may be worth to keep the property and rent it if you can afford it and if you have great credit and do not want to mess with it.
2) Refinance it if you are able and rent it , I will be happy to recommend a couple of great Mortgage brokers.
3) Short sale it. Most lenders will accomodate you according to your financial status and depending on who the lender is. Some are better than others. I can help you with the short sale if you decide if this is best for you.
4) If you have other financial burdens such as maxed out credit cards, other upside down mortgages and other debts that you are unable to pay contact a banktrupcy to see what your options are.
Contact me or any agent you prefer to make an assessment of the subject property to determine the fair market value of this home so that you are armed with solid and reliable information before you make your next move. Please do not rely on various websites to determine the current market value of your home as a lot of the website may have inacurate figures. I or any other agent you select can do a market analysis for you free of charge.
I'm actually going through the NACA program miself in Texas. I did get a very good interest rate and my monthly payment would be super loan for the house I'm looking to buy, but I did find that many sellers do not want to work with NACA members, and they do take forever to go to closing. I have had a purchasing contract for almost 2.5 months and the seller is fed up already. He has given us until the 25th to close or we lose the contract, which means we start the home searching process all over again, and we lose our earnest money and inspection costs. We have 4 business days left and we're hoping NACA makes this deadline. They are very bad at communicating with the members (clients) also. During my 3 month process with them, my counselor has called me like twice, it takes a weeks a more to get a responce to an email if you ever get one, his voicemail is always on (very unlikely to get him to answer the phone), and the wait time is long to get a receptionist to answer. So far it hasn't been a great experience. If we get to closing it will definately be worth it, but I don't think I would feel comfortable recommending someone to go to them.... more
Some lenders require the buyer, seller, buyer's agent, and seller's agent to sign a form called an Affidavit of Arm's Length Transaction. This form can state that you aren't related to the sellers, are not giving the sellers financial incentive to sell their home, and the form typically will state that the sellers have to move out of the home at close of escrow. Not all banks require this form to be signed and not every form has these clauses in it. You may want to have your friend check with their bank to see if this form is required and to get a copy of the form so that you will know in advance if this is an option. In the event your friends would like help with a short sale on their home, I would be happy to help. I have worked with hundreds of homeowners in short sale situations and have special credentials that allow me to help sellers work with their bank. If you would like to review recommendations from my clients and the quality of the work you can do so at this link: http://www.trulia.com/voices/profile/Real_Estate_Pro-Phoenix_AZ-1613368/#__rec... more
Please know that it is most important to talk with about 3 experts..one is a real estate/bankruptcy/short sale knowledgable attorney who will discuss your unique situation and options, next will be a tax expert such as a CPA who knows the rules and can give you your options regarding taxes, next will be a real estate agent who again is knowledgable in the local market where you are located. Once you have discussed your situation with these experts, you will have a good idea of your best options(s). Be careful of reading blogs and posts because laws can be different from one state to another. You must use experts who know your State laws as well as Federal.
Good Luck to you
Ann in Arizona... more