Foreclosure in 89011 : Advice

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Larry Tollen, Real Estate Pro in Durham, NC
Larry Tollen answered:
So, is it better I shortsale my house first since I have no work as hardship. Then buy another house I saved enough cash. Is this ok?
Why do you imagine you will be approved for a short sale. When a bank is determining whether to approve a short sale they will review your finances with a fine tooth comb, any assets yo ... more
0 votes Share Flag Fri Apr 15, 2011 Foreclosure in 89011
Eli Givoni-S…, Real Estate Pro in Boca Raton, FL
Eli Givoni-Short Sale Dept LLC answered:
Am I allowed to buy another residence/house if I shortsale my current house? I will pay in Cash. I heard that I can since it is Principal Residence?
Hi Jen,

Yes, you can pay cash and buy another house. We are a professional short sale service and would be happy to explain the process to you. Please call us directly to discuss y ... more
0 votes Share Flag Fri Feb 18, 2011 Foreclosure in 89011
Pacita C Dim…, Real Estate Pro in Alameda, CA
Pacita C Dimacali answered:
Am I allowed to buy another residence/house if I shortsale my current house? I will pay in Cash. I heard that I can since it is Principal Residence?
If you have cash, that's liquid assets and that is part of your financial statement disclosure, unless you've got all that cash under a mattress. Even then. if you try to conc ... more
0 votes Share Flag Fri Feb 18, 2011 Foreclosure in 89011
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