Your bank would still be "shorted" the full amount of the loan and I am certai ... to predict exactly how much a shortsale will affect your credit. While shortsales have been around ... Read more
The house is priced to sell it sounds like. Honestly one has to go look at the ... and other times there may be 3 offers waiting. As for time to do a shortsale one can be done ... Read more
Andy,Banks want to make sure your can comfortably handle both mortgages and ... Keep in mind that most shortsales are sold 'as is'. So you will need to factor in repair cost. Secondly, you ... Read more
We owe $116,000 on our townhome, and a recent townhome sold for $110,000 in our ... /making up the mortgage balance. Would a shortsale with a payment plan for the remaining balance affect my ... Read more
Good Afternoon,I agree with Jessica what you are trying to do is ... report and will see the shortsale, plan on the need for a "large" downpayment (will depend ... Read more
On June 26, 2008 Fannie Mae issued Announcement 08-16 to all lenders that change ... 's guidelines on evaluating borrowers who have a previous ShortSale in their credit histories. It enables ... Read more
Hello Jen,You need to speak with your CPA and possibly an attorney. ... . For the investment, 2nd home, I don't think there is a tax break on that income. Maybe shortsale the primary ... Read more