You should meet with a local and trusted loan offcier who can prequailify you at no cost, they can let you know what you will need down to get a mortgage given your credit and total financial picture... more
Are you working with a real estate agent? I have a deal right now with Wells Fargo (formerly Wachovia) that was very complicated, three home equity lines of credit on the same house, and it appears to be going very well. It took a little time to get things on track due to the merger, however, once an offer was submitted and a negotiator assigned it actually went surprisingly smoothly. They reviewed the seller's financials and ordered the BPO in a reasonable amount of time, we have completed two rounds of 'back and forth' on the price and terms and are now at a place where no one is going to budge any further. The whole process has taken 7 months so far.
if you have a cooperative seller, knowledgeable real estate professionals and good attorneys Short Sales can and do go a lot more smoothly.... more
At this time we are seeing no direct impact on pricing. But there has definitely been a noticable decrease in our summer vacation traffic...undoubtedly because people don't want to take the chance of having a bad experience because of the "possibility" of problems.
Fortunately, we have seen no environmental impact in our location but many feel it's a mater of time......but for now the water is warm and our beaches remain beautiful. Let's hope it stays that way!