If you have a reasonable explanation for the broken lease you should write it up in a letter to the prospective landlord. Frankly that is not good as the new landlord is going to think you might do it again. Also for renting they will want proof of employment and some good credit. You might be better trying for an apartment - rental homes in McKinney are pretty pricey. Good luck I hope it turns out well for you.... more
First of all, ask your agent where is the preliminary Title Report so you know exactly what the amount of the lien is ? If the seller and the seller's agent and the Title Co. have no response, you are entitled to drop out of escrow and have your deposit returned. You need to know how much money is involved, because if it is a large sum, then it's not going to be easily resolved and you might as well move on while they fight over the mistake.... more
Wow. This is kind of unique that you would get to see the bank's valuation from the seller.
Yes, if their BPO is anything close to the appraised value, you will have an issue getting financing. But the short sale bank is also likely to lower the price based on your lender's appraisal.
Things should work out.... more
First off, I'm sorry to hear about your situation. You'll eventually get back on your feet and I hope that you do soon.
I'm sure others might have other opinions, but you don't truly have to move out until you are asked to leave by the new owner of your home after 4/5/11. It could be the shortly thereafter, 1 month, 6 months or longer. It just depends on how quick the new owner (a Bank or Fannie Mae or RMBS owner) gets around to filing the correct documents to remove you from the premesis.
There are some instances down here in Austin where people have been living in the former home for 6 months 'rent free', 12 months, or longer as Fannie Mae is still very backed up in processing all their foreclosures.
That said, it's still best to have a backup plan ready to go at a moments notice if need be.... more
Your HOA and the appraisal district are separate inteties from your mortgage company and they can both file liens on your property and affect your credit rating. However, it sounds like you are approaching the point of foreclosure with the lender. If you are not already represented by a broker, I would like to talk to you about selling your property. If you don't have equity in your property, then I would like to refer you to a Short Sale specialist who can negotiate with your lender and sell your property without the level of damage to your credit that foreclosure will cause.
REALTOR, GRI, ABR, E-Pro
If you are already involved in a short sale than the HOA will have to be paid by the mortgage company or the buyers at closing. I would worry more about the mortgage company that the HOA. Be sure you have a Realtor experienced with negotiating short sales helping you in the process.... more