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Monique & Joe…, Real Estate Pro in Los Angeles, CA
Monique & Joe Carrabba answered:
My home loan is "upside down" (in CA).Am just sending in docs for Fannie Mae loan modification program. I'm selling a 4-plex in MT.
Hello Cath,

You can do a short sale if the loan modification fails. I have closed short sales with B of A-many. It all depends on what can be worked out with the lender. Your better ... more
0 votes Share Flag Thu Aug 15, 2013 Foreclosure in 91702
Penny OBrien, Real Estate Pro in Las Vegas, NV
Penny OBrien answered:
rent home or keep empty? Possible tax implications when forced to relocate for work.

Please get in touch with your CPA or attorney. They will be able to advise you on all your above questions.

Good LUCK.
Penny O'Brien with Simply Vegas
702.321.938 ... more
0 votes Share Flag Mon May 23, 2011 Home Selling in Las Vegas
Don Kelbick,  in Miami, FL
Don Kelbick answered:
I'm a foreigner and i want to buy an apartment in Miami. What's the best way to buy? It is legally permited? Do I need a special permission?
Unquestionably the best way to buy is to find a qualified realtor in the area you want to purchase, look with him (or her) and pay CASH.

There are no restrictions on purchasing for f ... more
0 votes Share Flag Fri May 16, 2014 Home Buying in Miami
Justin Ruzic…, Real Estate Pro in Fort Myers, FL
Justin Ruzicka answered:
My friends are in pre-foreclosure. They've been given notice of a trustee& ... happens at these trustee sales? Can they be? ...
They can't be locked out. Sit tight the realtor who ends up with the property after foreclosure will offer them cash for keys to pay for moving expenses. If an investors buys it, ... more
0 votes Share Flag Wed May 18, 2011 Foreclosure in Phoenix
Don Brown, G…, Real Estate Pro in Henderson, NV
Don Brown, GRI answered:
What do you think for investors to buy in zip 89149,89129 area? How's cash flow? What's the typical rent? Easy to find quality tenants?
That area is in the Northwest part of the valley. The amount of rent will be deternined by the type of property you purchase. Singe story or two stor...y the sq. footage...number of be ... more
0 votes Share Flag Tue Aug 14, 2012 Home Buying in 89149
Madeleine Se…, Real Estate Pro in Anaheim Hills, CA
Madeleine Semaan answered:
Well if you have consulted an attorney he should have explained to you tax consequences in ca pertaining to the line of credit.if its large Amount they can pursue u with a deficiency j ... more
0 votes Share Flag Thu Aug 15, 2013 Foreclosure in La Puente
Shanna Rogers, Real Estate Pro in Murrieta, CA
Shanna Rogers answered:
My ex-husband lives in the house by himself and is the only one on title. I am the only borrower and have been making the payments. Can I short sale?
The only person who can sell the house is the person on Title. They are the one(s) who have to sign the Deed at close of Escrow. You might want to consult a Real Estate Attorney to fi ... more
0 votes Share Flag Tue Feb 11, 2014 Home Selling in 90277
Laura Coffey, Real Estate Pro in Santa Clarita, CA
Laura Coffey answered:
I am behind 11 months on my mortage due to slow bussness, I was denied a loan mod with BOFA 3 times already, the loan balance is 800K what should I do
Getting a loan mod is very hard and the average loan modification is a $500 reduction in monthly payment. I would look into talking with a short sale Realtor and a Real Estate attorney ... more
0 votes Share Flag Tue Aug 28, 2012 Foreclosure in California
Jane Shebroe, Real Estate Pro in Caldwell, ID
Jane Shebroe answered:
What happens when your house sells for less than what you owe? Do you owe the bank that day? Can you wrap up the owed amount in a new mortgage?
You should have the realtor negotiate a short sale with the bank if possible. That way if qualified the bank will settle the debt for the amount of the sale and you will not owe any m ... more
0 votes Share Flag Tue Apr 3, 2012 Home Selling in 07054
Thierry Roche, Real Estate Pro in Fairfax, VA
Thierry Roche answered:
Hello, I would like to sell my condo soon as possible. What are my options other than a foreclosure and short sale?
The tax question you are asking pertains to the rule that you must live in a condo 2 out of 5 years in order for the gain or profit to be tax free. But if you did not profit, (you said ... more
0 votes Share Flag Wed Mar 30, 2011 Home Selling in Fairfax County
Eli Givoni-S…, Other/Just Looking in Boca Raton, FL
Eli Givoni-Short Sale Dept LLC answered:
Can my house be put up for short sale even if I still do my payments on time, and what I owe is more than what the house cost?
Hi Alexa,

As long as you are upside down on your mortgage, you can do a short sale. We are a professional short sale service and would be happy to explain the process to you. Pleas ... more
0 votes Share Flag Sun Feb 12, 2012 Foreclosure in 33825
Brianna Rogan,  in Friendswood, TX
Brianna Rogan answered:
My husband and I are looking to buy a house and we arent sure where to start. Can you help?
Its great that your are seeking advice on your first step many buyers dont and waste their time. Your first step is checking into to financing to make sure you know your buying power be ... more
0 votes Share Flag Thu Feb 28, 2013 Home Buying in 77845
Nadine Mauro, Real Estate Pro in Lake Worth, FL
Nadine Mauro answered:
had to move for job relocation. Option was stay and be out of work. What can we do with the house? Its underwater
Hi Nmbound,

One of your options would be to do a short sale on the house. If you had to move for employment reasons and the revenue from the rent is not sufficient to pay the mo ... more
0 votes Share Flag Thu Apr 7, 2011 Foreclosure in 33322
Tyler Brown, Real Estate Pro in Cardiff, CA
Tyler Brown answered:
Rescind a foreclosure? How often does this happen sucessfully?
That is not likely to happen. Foreclosures do get rescinded, but it's often from the homeowner side. Did it sell to a 3rd party in eagle for cash? It's unlikely they would hav ... more
0 votes Share Flag Thu Aug 20, 2015 Foreclosure in Oceanside
1st Zero-Emi…,  in Austin, TX
1st Zero-Emissions Realtor answered:
we are an Irish family seeking information regarding relocating from NY to Austin we have 3 kids and we are legal to work in USA.
what would you like to know?
Feel free to contact me direct here with your exact needs and details.

You'l ... more
0 votes Share Flag Fri Jun 14, 2013 Moving in Austin
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tim Moore answered:
Is it better to rent or buy a single family home in Colorado Springs, CO?
You have not given us much information to base a guess on, but I would think that if home prices are down, as much as they are in my area, it would be a logical time to be a buyer. This ... more
0 votes Share Flag Fri Sep 7, 2012 Market Conditions in Colorado Springs
Daniel Di Ma…, Real Estate Pro in Chula Vista, CA
Daniel Di Matteo answered:
my husband and me want to buy a house.. but i have a collection debt of 150 dls it can be a big problem in my credit.. to get the loan..
Hi Ady,
Go ahead and give me a call so I can put you in touch with a loan officer I know and trust over at Wells Fargo.
He will be able to look your specific situation and see what ne ... more
0 votes Share Flag Wed Dec 5, 2012 Market Conditions in Chula Vista
Andrew Fortu…, Real Estate Pro in Colorado Springs, CO
Andrew Fortune answered:
What are the elements of a short sale? who pays the deficit between the sale pri ... actually owned on the property? ...
A Short Sale is when the bank agrees to sell the property at a lower sales price. They agree to do this to keep the owners and the banks asset from going into foreclosure. They are not ... more
0 votes Share Flag Thu Feb 17, 2011 Home Buying in Houston
John Morrison, Real Estate Pro in Las Vegas, NV
John Morrison answered:
Can anyone tell me the state of the rental market in zip code 89131--what's this neighborhood called? Are the rents decent? Is there demand?
89131 is part of the Centennial Hills area of Las Vegas. This particular Zip Code has quite a diversity of property types with a lot of open space that gives the area a much less conge ... more
0 votes Share Flag Fri Feb 25, 2011 Rentals in Las Vegas
Dp2, Other/Just Looking in Virginia
Dp2 answered:
Our home was reassessed and taxes shot up. We cannot sell it for reassessed value, is there a way to get the taxes lowered? We want to downsize.
Yes, you need to contest the assessment. You'd need to obtain a CMA (based on recent sold comps) and an appraisal. Afterward, you could submit copies of both with your request to ... more
0 votes Share Flag Thu Feb 17, 2011 Market Conditions in Willingboro
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