Home Buying in 95006>Question Details

Bryan Ware, Home Seller in San Jose, CA

i got a ??

Asked by Bryan Ware, San Jose, CA Fri Feb 20, 2009

If the 1st mortgage on home is insured and thru one bank and the 2nd on a home is not insured and thru a differnt bank and also under nevada law not calif is this a problem?

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2
Banks don't insure loans. GSE's insure loans for securitization as the other agent indicated (FHA, Fannie Mae or Freddie). Are you trying to short sale? If you are wondering about HAFA and whether your 1st lien is eligible for short sale preapproval, you should check with your lender. To my knowledge, the GSE's haven't implemented any HAFA short sale program. Essentially, that would mean to sell, you would have to jump through the nightmarish hoops that home sellers jumped through a year ago or so; the hurry up and wait treatment.

If you would like to give me a call, I would be have to meet with you to discuss getting your home sold.

Arturo C. Shivers, REALTOR, SFR
CA Lic. #01779941
KELLER WILLIAMS REALTY
760 Camino Ramon, Suite 200
Danville, CA 94526
Office: (925) 855-8333 Ext. 272
Web Reference: http://www.casarati.net
0 votes Thank Flag Link Tue May 18, 2010
Bryan; When you say the loan is insured, what do you mean? Insured by fannie or freddy mac?
You need to clarify you questions and consider asking someone from Nevada. Call an agent in Nevada and they can better answer this question.
To me if one is insured and one is not that is not a problem, but not a problem for what. What are you concerned about being a problem. Is this your property?
David
0 votes Thank Flag Link Sat Feb 21, 2009
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