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Financing in 08081 : Real Estate Advice

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  • Local Info3
  • Home Buying41
  • Home Selling9
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Activity 2
Thu Feb 9, 2017
asgj1978 answered:
You are asking if you can borrow more than the collateral would be worth? Umm.... NO!! That would be like asking for $50,000 and giving title to a $25,000 car...what makes you think the banks want you to start out owing the much more than the property they are financing for you?! ... more
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Sat Sep 21, 2013
Larry Sarlo answered:
If you have an FHA loan and you rent it out for 18 months or more and later you decide to try to short sale.... You will be denied! No ifs ands or buts!

You said you are underwater... You can short sale and buy another home immediately... with restrictions. One of the requirements is a distance factor another is you have to be current on your mortgage...

Search Short Sales and foreclosure Deals at

Larry Sarlo
RE/MAX Preferred
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