Great question! Below is an article that I wrote some time ago. The best person to ask is a mortgage professional of course.
Best of Luck!
Michael Collins- SFR, BPOR
B ... more
Yes absolutely, otherwise the landlord can report you in default or on many landlord boards.
This could result in Bad Credit and or other Landlords not wishing to rent ... more
My experience with renovation financing is limited but I'll share what I can. My buyer used Wells Fargo...it was their own re-hab loan similar to the home path in that al ... more
You will definitely want to seek the advice of an attorney for your question.
Please realize though you don't need to be here to sell. A local Realtor can take care ... more
If you sell as a short sale , your credit gets hurt no options, unless you bought it a LLC or a C Corporation
or can find Lawyers ... more
It really is a matter of the difference in debt to purchase price. If the difference is not to much then yes a deal could be worked out otherwise if you did not want to purs ... more
Buying a short sale property takes a long process. The seller may have accepted your offer, but it is contingent on the lender's approval of the purchase offer, the t ... more
This is commonly done on foreclosure opportunities that represent the right home at the right price when buyers feel there may be multiple buyers interested in the property.
U ... more
The answer to that is "it depends". I assume your Realtor is providing you with some guidance and you are aware of comparable neighborhood property prices. As long as ... more
The quick answer is that the price isn't attractive to the right buyer.
Because foreclosures can be in very rough shape, the price needs to be attractive and the buye ... more