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Home Buying in Nichols Hills : Real Estate Advice

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  • Home Buying1
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Activity 5
Thu Mar 17, 2016
Noemi Septier asked:
Wed Dec 2, 2015
Josh Barnett answered:
Sat Oct 18, 2014
Jessica Bateman answered:
If you still need a lender, I'd recommend The Lenders Network. They have lenders that can go down to a 580 credit score for FHA nationwide.
3 votes 4 answers Share Flag
Mon Aug 12, 2013
Clinton Franklin answered:
A short sale is when the property is sold for less than what is owed. This is done to avoid foreclosure.
A short sale is started when the home-buyer (borrower) has a hardship and can no longer afford the home. The bank (or lender) has to first agree to the putting the home on the market as a "short-sale" and then accept an offer for less than what is owed.
Short sales are a benefit to the borrower and lender in that it avoids timely and costly foreclosure procedures, the home is usually left in better condition than if it was vacated or abandoned, and because the bank agrees to the short-sale offer, does not go after the borrower for the remaining balance (or deficiency).

If you are the person buying the home in a short-sale situation, you are probably getting a good deal, and your credit is not damaged by the transaction at all (given you pay as promised).
... more
0 votes 5 answers Share Flag
Wed Jan 21, 2009
Phill Slocum answered:
We would like to offer our assistance. Please visit our website for more information.
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