Not sure what exactly happened based on your question. But I would probably say that trying to pursue a lawsuit is going to be a waste of time and money. Short sale transactions can be super unpredictable. The best thing you can do is work with short sale experienced real estate professionals and trust that they will put a good deal together and work diligently. If for whatever reason this transaction didn't close and it's not salvageable, just move on.
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Senior Loan Officer
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I don't believe you can; however, this is a great sight to help you get Realtors to come in and interview to work for you.
Let me know when we can set something up...be happy to help out.
Hi Louise. An inspection would be done after you have an accepted offer. As for the deposit, If you are speaking about a downpayment, that's negotiable. Feel free to contact me if you would like a more in depth answer. Justin Maimone. Century 21 American Homes. Mobile: 516-469-8300. You will also find answers to most commonly asked questions on my website at www.JustinSellsLi.com. I wish you the best of luck and hope you found the answers you were looking for.... more
20% or more is a great down payment. With banks being so strict, due to your BK, it will be at least a few years before you can even apply for a mortgage. Feel free to contact me with any further questions you may have.... more
The decision is entirely yours--what will suit your finances best--if buying a two family and one part isn't rented for a period of time can you carry the expenses. If you already haven't done so--why not visit with any qualified loan officer(s) first and see exactly what your budget can handle. Lenders have their income v. debt criteria for qualifying for the amount of a mortgage—oftentimes requiring that housing costs are not in excess of one-third of gross income in addition to a stipulated income v. overall debt-ratio. What lenders don’t know are borrowers’ non-debt spending habits, present and anticipated. You, the borrower, need to consider the economic factors of your lifestyle that would impact on your individual comfort level of affordability. A mortgage outside your budgetary constraints can dramatically alter your overall living conditions. So, be sure to factor micro and macro economic concerns into your mortgage amount deliberations. Again, a loan officer can best advise you.... more
Not knowing your current policy nor what is covered, and does your insurance company know it's being rented--Consult with your insurance professional for accurate information---yes, you may wish to protect yourself and add to what you already have--again your insurance agent can best determine your needs.... more