There are photos of homes On Shadowtree Drive in Oceanside that look identical to yours. Unfortunately, data is erroneous. Contact the website Technical engineer directly for And request a correction. This is not the venue.... more
Seller can only cancel on you once your contingency period has passed and they have given you a "Notice to Buyer to Perform". Your deposit money will sit in escrow until both parties have signed cancellation instructions and indicated what happens with the deposit. Sounds like you should get your deposit back.
However, since I have had several appraisal issues in the past few weeks, there are a few other options. Generally, you can challenge the appraised value. There are different procedures based on your loan type, but it may require supporting comps or another appraisal to prove a higher value. I have not found this to be too successful since an appraiser doesn't want to admit he/she's wrong.
If you were doing an FHA or VA loan, the appraisal is in the system for 6 months, I believe. However, if you are doing a conventional loan, you can switch lenders and order a new appraisal. There are some conventional loans up to 95% LTV these days on single family homes which will be owner occupied and FICOs higher than 720, so it may be an alternative for you.... more
Look first at avoiding bankruptcy and foreclosure with alternatives such as debt settlement and short sale. Debt Settlement can reduce your unsecured debt payments by as much as half and a Short Sale can allow you to go rent somewhere for a reduced amount after the sale. Both have much less of an affect on the credit than a BK and foreclosure. However if you don't qualify and you do qualify for a CH7 you may want to just clean everything off and start fresh. It can't hurt to talk with a bankruptcy attorney. Seek advice from someone who can look at the big picture and point you in the right direction based on your best interests. I am a CDPE and I available to talk with you about both short sale and debt settlement... more
i live in my parents house they tried a short sale, and the same thing the broker told them to stop paying their morgage this was in june 2008, in october 2008, they moved out, but i stayed behind to keep up with the place. here we are now in september 2009 and my parents just received their notice of defaut. that's 15 months with not paying any morgage. i believe in 90 days the house will go up for auction and then we will have 30 days, so roughly i'm thinking jan.15th. my question though is what happens if no one buys it at the auction?... more