Foreclosure in Fort Washington : Advice

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Catherine Pu…, Real Estate Pro in Silver Spring, MD
Catherine Purcell answered:
I short saled my previous home in 2006. the second mortgage lender did not oppose it. now 2nd TD lender put charge-off, how do i remove this
When you do not pay as agreed, the lender with whom you take the debt out has a right, I believe, to document the debt as a charge-off which means they wrote the debt off of their books ... more
0 votes Share Flag Tue Feb 26, 2013 Foreclosure in Fort Washington
Tony McMahon, Real Estate Pro in 20601
Tony McMahon answered:
Looking to buy a foreclosure in Ft. Washington, Md. We want to buy very soon with cash..We are looking for a townhouse or a condo "like" townhouse.
Please feel free to contact me for assistance

http://tmcmahon.exitlandmark.com/
0 votes Share Flag Wed Feb 27, 2013 Foreclosure in Fort Washington
Tina Lam, Real Estate Pro in San Jose, CA
Tina Lam answered:
We recently retired and have enough cash to buy a home in another state. Should we short sale or foreclose, we could use all the cash we can save?
You can do a regular sale if you have remaining equity. You'll be able to preserve your credit in case you still need it. If you try to short sale, you'll likely get declined with you ... more
0 votes Share Flag Mon Nov 19, 2012 Foreclosure in 20744
Laura Roskel…, Real Estate Pro in Odenton, MD
Laura Roskelly answered:
We just retired and we can't afford our mortgage. If we have enough cash to buy a house in a different state, should we foreclose or short sale?
Hi K,

What you are describing could be considered a 'buy and bale' which is a form of mortgage fraud.

A short sale will require (in most cases) a financial hardship which would b ... more
0 votes Share Flag Tue Sep 24, 2013 Foreclosure in 20744
Tracey Simms, Real Estate Pro in Bel Air, MD
Tracey Simms answered:
I have a home in Orange County Ca., which I paid 1.6 million and now owe 1.15 million. Should I list my home while I applying for short sale.?
Yes, you should contact your bank and begin the short sale process .Ultimately, your home will need to be listed and under contract for the sale to be approved. Your agent will assist y ... more
0 votes Share Flag Tue Nov 13, 2012 Foreclosure in 20744
Alain Picard, Real Estate Pro in Puyallup, WA
Alain Picard answered:
On short sale can you stop paying the mtg or do you still have to?
A lot of people do stop making their payments to do a short sale. I would talk to a real estate attorney that does short sales or a local real estate agent and go over everything with t ... more
0 votes Share Flag Wed Jul 18, 2012 Foreclosure in 20744
Tami Browning, Real Estate Pro in Bakersfield, CA
Tami Browning answered:
My husband and I applied for the HAMP, but were denied because we can afford our payment. Our home is $100k underwater. Can we short sell?
There is more than one qualifier for being able to do a short sale. I recommend you contact a Certified Short Sale specialist in your are to discuss your options.
0 votes Share Flag Tue Nov 20, 2012 Foreclosure in 20744
Tamika R. Jo…, Real Estate Pro in Prince George's County...
Tamika R. Johnson answered:
Hi. In the process of divorce. Trying to sell house. 1st mortgage is with US Bank Colorado. bal aprox 236,950, 2nd mortgage with Bellco Credit Union
Its very difficult to determine from the information that you sent, what the situation might be. I would suggest you speak with your agent and 1. emphasize your the urgency in selling y ... more
0 votes Share Flag Mon Aug 6, 2012 Foreclosure in 20744
Tom Hinz, Real Estate Pro in New Jersey
Tom Hinz answered:
What assets can a bank attach during a short sale in Connecticut?
Typically I don't have bank attach assets specifically on our clients. If there is an LLC or self employment income that is reflected on a profit and loss statement or tax returns ... more
0 votes Share Flag Fri Apr 16, 2010 Foreclosure in 20744
Alex Saenger, Real Estate Pro in North Potomac, MD
Alex Saenger answered:
can fannie mae approve my shortsale if i have never missed a payment?
It may be possible. There are a whole list of questions that come with your question. The first issue, right off the bat is what is your "hardship"? Without that, you can' ... more
0 votes Share Flag Tue Sep 4, 2012 Foreclosure in 20744
Keane Ng, Real Estate Pro in Seattle, WA
Keane Ng answered:
Can I short sale if I have never missed a payment?
Jmorrow,

It's more difficult but it can happen.

More importantly, if you find a way to get the bank to accept the short sale without missing a payment, you can qualify to pur ... more
0 votes Share Flag Sat Oct 22, 2011 Foreclosure in 20744
Tom Hinz, Real Estate Pro in New Jersey
Tom Hinz answered:
3 of us own a vacation home in California (Mt Shasta). We have a 1st with Indymac for 350k and a 2nd with Chase for 100k. We've had the house
The first thing to do is to contact the collections department at Chase and ask to speak to the loss mitigatin department. Tell them the circumstances, mentioning that you've had ... more
0 votes Share Flag Mon Dec 14, 2009 Foreclosure in 20744
Tina Beasley, Real Estate Pro in Richmond, VA
Tina Beasley answered:
Iam a self employed contrator marrierd with a small child and my wife works parttime at a restaurant. due to the economy we have had two trucks and a
Are you working with a REALTOR? If you had someone on your side that has experience dealing with the bank, you might have better results. However, I have personally found the short sa ... more
0 votes Share Flag Fri Dec 11, 2009 Foreclosure in 20744
Tom Hinz, Real Estate Pro in New Jersey
Tom Hinz answered:
Best options for a Short Sale on A Chase Mortgage.
First thing you should do is see if you can qualify for the Gov't Making Home Owership Affordable Plan to get you loan modified in the 2-3 % range to lower your payment. With a Ch ... more
0 votes Share Flag Sat Oct 3, 2009 Foreclosure in 20744
Marney Kirk, Real Estate Pro in Timonium, MD
Marney Kirk answered:
can you go for a short sale with still having money in your savings account- neither my husband or I are?
Ellie, your best bet would be to talk to a short sale specialist. I have one who does this on a regular basis -- and she can advise you well.
If you are unable to make payments on your ... more
0 votes Share Flag Mon Jul 13, 2009 Foreclosure in 20744
Kim Mills, Real Estate Pro in Crofton, MD
Kim Mills answered:
Im in the Fort Washington Maryland area,
Most Realtors need a licensed contractor to do the work for them. If you are licensed and insured then you can contact you local agents by letter, networking, referral, contact the agen ... more
0 votes Share Flag Tue Jun 2, 2009 Foreclosure in 20744
Mr.P, Other/Just Looking in Arizona
Mr.P answered:
I have a question regarding pre-settlement occupancy on a pending short sale.
Well this is a typical Short Sale, except you moved in, which I don't like.
80% of Short Sales fail to close. There`s no such thing as free. I hope you didn`t give the seller any mone ... more
0 votes Share Flag Mon Mar 17, 2008 Foreclosure in 20744
Donald J. Le…, Real Estate Pro in Tacoma, WA
Donald J. Leske II answered:
How to negotiate with 2nd lien holder once 1st lender has approved short sale?
Hello Tuan,

Your best bet, in my humble opinion, is to consult an Attorney. If you cannot afford one you may be able to qualify for free legal advice from a pro bono offering. Here i ... more
0 votes Share Flag Mon Oct 25, 2010 Foreclosure in Fort Washington
Lavy Mammen, Real Estate Pro in Maryland
Lavy Mammen answered:
During short sale review process, skip mortgage payments or keep paying?
This is what is required of borrower before a Loan servicers agrees to short sale.

1. Actively market the property for 3-6 months
2. Personal financial information for analysis (In ... more
0 votes Share Flag Mon Oct 21, 2013 Foreclosure in 20744
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