Deed In Lieu All Locations : Nationwide Real Estate Advice

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Shaukatali K…, Real Estate Pro in Katy, TX
Shaukatali Kadibhai answered:
We purchased a home in Washington State in 2005 for 297000. We have a mort. pmt of 1435 a month and and h ...
U are upside down by 100K.

Ayou do not cover the expenses from the rent you receive.
Can you frinance it??
Have the market changed whee the house is located??
Talk to a lender and ... more
0 votes Share Flag Wed Feb 20, 2013 Financing in 30312
Tina Lam, Real Estate Pro in San Jose, CA
Tina Lam answered:
We lost our home to foreclosure 3.5 years ago. How long do I need to wait to purchase a new home again? Would the downpayment be high?
Depending on your initial credit rating, it could be 7-10 years until you can qualify for a loan. Many buyers in your situation end up buying with all cash instead of waiting. What yo ... more
0 votes Share Flag Mon Mar 11, 2013 Home Buying in O'Fallon
Cletis Walla…, Real Estate Pro in Marshfield, MO
Cletis Wallace answered:
I am trying to do a Deed in Lieu with SunTrust.
If you would like to contact me directly, I would be happy to answer some questions for you. This is a subjecty that may be best answered in private. Please feel free to contact me at 4 ... more
0 votes Share Flag Tue Feb 5, 2013 Home Buying in 65706
Robert Adams, Real Estate Pro in Henderson, NV
Robert Adams asked:
Fannie Mae Triple dipping at home owner's expense? -Fannie Mae approves short payoffs at ridiculously high prices like the example ... .-No one buys them.-Fannie Mae forecloses or gets the property back in deed in lieu-FANNIE MAE ...
0 votes Share Flag Tue Feb 5, 2013 Home Selling in Las Vegas
Teresa, Home Owner in Ocean County, NJ
Teresa asked:
Deed in lieu, short sale and defaulted loan...Credit?? My house has been in the short sale process and on the market for months. My loa ... Im not paying it. It seems maybe the mortgage comp might prefer a deed in lieu. Is a short sale or ...
0 votes Share Flag Tue Feb 5, 2013 Credit Score
Lester S.  , Real Estate Pro in
Lester S. answered:
I have section 8 and I just found out I have to move by the end of the month, du ... completing a deed and lieu. I need help!!! ...
I suggest you contact a local Realtor that is able to send you available listings and then take you out this week to look at the ones that work for you. Good Luck!
0 votes Share Flag Tue Feb 5, 2013 For Rent in Aurora
Marge Bennett, Real Estate Pro in Fort Myers, FL
Marge Bennett answered:
look for another agent that's specialized in short sale if my current one is reluctant to help with short sal ...
are you the buyer or the seller? Ask your agent why they are reluctant to work with short sales. If you are a buyer, it may help you decide if you want to deal with them. I just had a l ... more
0 votes Share Flag Sat Mar 30, 2013 Home Buying in Cherry Hill
Joe Schiller, Real Estate Pro in Chicago, IL
Joe Schiller answered:
What other options does one have aside from a short sale?
deed in Lieu or foreclosure..you need a professional to help you..contact me
0 votes Share Flag Wed Feb 6, 2013 Home Buying in Chicago
Minna Reid, Real Estate Pro in Trumbull, CT
Minna Reid answered:
Options for vacant property
If you are upside down in the home - a short sale would be another option.
0 votes Share Flag Sat Feb 9, 2013 Foreclosure in 08525
Jim Simms, Real Estate Pro in Louisville, KY
Jim Simms answered:
Did a deed in lieu. Do I have a chance to buy or rent even?
Complicated question, depends on a lot more than you have stated here, find a local LO you trust and have them review your entire situation.

Good luck,

Jim Simms
NMLS # 6395
... more
0 votes Share Flag Tue Jan 29, 2013 Home Buying in 75402
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tim Moore answered:
What do I do now?
Look at the bright side, you have had a home for 4 years at no cost to you at all. How many people out there can say that?
0 votes Share Flag Mon Jan 28, 2013 Home Buying in Ocean County
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
can i buy a house, if i just had a shortsale in another state about 1.5 years ago?
If you are qualifying for an conforming mortgage, which most people refer to as a conventional mortgage, then you'll need to wait anywhere from 2 to 7 years depends on how much of a dow ... more
0 votes Share Flag Thu Jun 26, 2014 Foreclosure in Monterey Park
Sandra jones…, Both Buyer and Seller in Jamaica, NY
Sandra jones Harrison asked:
If I receive a property via a deed in lieu of foreclosure. The previous owner didn't pay the HOA fees. ... except the property taxes. Would I ever be responsible for the old HOA fees that the original owner didn't Pay??? I will pay my yearly HOA fee when I become the new owner.
0 votes Share Flag Sat Jan 26, 2013 Home Buying
Steve Kittre…, Real Estate Pro in Bakersfield, CA
Steve Kittrell answered:
Short sold our home two years ago. We are looking at another home and are able to put 20 % down. We cannot find financing other than hard money.
First question. Why have you been turned down. Are thet requiring another year?
Second, you may want to do a lease to own on that home until you can qualify for a loan. Give them a co ... more
0 votes Share Flag Sat Mar 1, 2014 Home Buying in 93308
David Pauley, Other/Just Looking in Louisville, KY
David Pauley answered:
How to buy, sale and trade homes with zero monies down.?
This best answer to no down payment mortgages is for individuals that qualify for VA mortgages. Rural Housing is also an excellent option for homes that qualify and for individuals tha ... more
0 votes Share Flag Thu May 8, 2014 Home Buying in Louisville
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tim Moore answered:
What is Foreclosure Deed?
It is what you get when you buy a property at a foreclosure auction that shows you now own it.
0 votes Share Flag Sun Jan 27, 2013 Home Buying in Newark
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
how long before I can buy a home again after a short sale?
With conforming (Fannie Mae/Freddie Mac) financing a minimum of 2 years is all that is required. You'll need 20% down, but if the short sale was due to documented extenuating circumstan ... more
0 votes Share Flag Mon Jun 9, 2014 Home Buying in Bakersfield
Corneliu Olar,  in Phoenix, AZ
Corneliu Olar answered:
How long before you can refinance or purchase a new home after a foreclosure?
FHA:

Short Sale:

3 years if delinquent at the time of the short sale

No waiting period if current on all debt at the time of the short sale

(Borrowers are not e ... more
0 votes Share Flag Tue Aug 18, 2015 Foreclosure in Phoenix
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
I want to apply for a VA guaranteed loan. Is the wait still 2 years after a Deed in Lieu?
Chris,

VA requires 2 years from a foreclosure, and that includes a deed-in-lieu of foreclosure. However only 1 year may be acceptable if the foreclosure (or deed-in-lieu) was due to ... more
0 votes Share Flag Thu Feb 28, 2013 Financing in Paso Robles
Lisa Orme, Real Estate Pro in Windsor, CT
Lisa Orme answered:
How long does it take to be per approved? I am in need of a house immediately.my house is about to be forecl ...
Unfortunately with a foreclosure on your credit record, you probably won't be able to get approved for another mortgage for several years. Almost any alternative to foreclosure includi ... more
0 votes Share Flag Fri Feb 15, 2013 Home Buying in Glastonbury
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