Unfortunately no. You can try to "assume" the current loan (take over after proving income and credit-worthiness) or refinance with a new loan in your name. But there is no way to transfer a loan to a new borrower.
Disclaimer: I am a Florida attorney and licensed Realtor. Information posted or made available on or through this site is not intended as legal advice or to create an attorney-client relationship between you and any attorney/our firm until officially retained. You should consult an attorney for advice regarding your individual situation since every case is different and not all information is relayed in an online question.... more
There is a program that I use that provides 10,000 towards your down payment and closing costs. It is a zero interest and zero payment loan that is only due when/if you sell the home. I have closed using this program several times and would be happy to assist you. Also I use a 2,000 tax credit program, which enables you to receive a 2,000 tax credit for the life of your loan.
HERE ARE SOME OF THE REQUIREMENTS
1-Must not have owned a home in 3 years.
2-Must have been in the same line of work for 2 years
3-Must make more than 25k but less than 80k
4-Must have 1,000 to put into the deal.
5-640 minimum credit score.
Contact Andrew 954-394-7185 Text first Please!!!!!!!
I have written countless blogs about short sales. The key is a buyer agent who is well experienced who will help you and when you find a home that it is listed with a listing agent who is well experienced. The seller needs to be approved to even do a short sale, having a pre-approved price is always a plus and although short sales are quicker these days, be prepared to wait.... more
This home prices have been rising in Margate and South Florida . If you are considering selling your home, contact a Realtor such as myself who has experience and knows the Margate market to give you a CMA-Comparable Market Analysis.
Cindy Barron, Realtor
The Keyes Company
The sellers acceptance means absolutely nothing. The Lender and any other lien holders (and there may be more than one) all have to accept and if any one of them refuses then the Seller will be unable to sell. In North Carolina the average time to get a response is 140 days+/- and the answer is more likely to be no than yes. I would imagine Florida takes at least this long and possibly longer. You may cancel your contract any time you like prior to getting a signed acceptance from the lender.
I'm sorry that we didn't find and answer your question sooner. I see 19 photos currently displayed for your listing, however we are currently experiencing some photo display issues at the moment which may be to blame for the problems you've experienced thus far.
I'm glad to hear that you've been in contact with our Customer Service team as they can give you the latest update on that situation. If you need additional assistance or an update on this issue, please call 1-415-748-3700 or send them an email via the link below.
I'm not sure where many of the buyers are getting their information. Buyers feel that this is a Buyer's market. As a Realtor representing many Buyers, I feel this is an gross overstatement. The reality is that it is a false-Seller's market with a huge shadow inventory of pent-up foreclosures. The low inventory of REO's, the vast majority of unapproved short sales, & the relatively-low availabiltiy of the normal retail sale-type home are the reasons for 4-10 offers on each available property. We just had a Buyer pay over appraised value to get their home...Remember 2003-2005? Unfortunately when the pent-up foreclosure ballon bursts, it will only drive prices down again. I see a "False-Positive" market right now in many neighborhoods. Be cautious, economics 101 of supply & demand.
We have encountered the same frustrations with our Buyers as well. One of the tactics is an REO agent will price the property to the penny exactly what RealList shows on the value map, 6-months back, 1/2 mile radius & leave it up to the Buyers to place "Highest & Best" offers on a truly terrible property that once repairs are taken into consideration, make the property worth no where near the comps. One of my investors viewed the property with me; The asking was $155,000. Multiple buyers were at the property when we showed up. Every room in the house had to be re-done including kitchen, baths, pool & roof work. The only way for the investor to make any money was to buy @ the $115,000 mark & even still probably only make $20-30K net on the flip. The property is still showing "Active". The auction inventory is extremely low so many new "Investors" are overpaying/overbidding for their properties. The more-savvy are waiting or going to higher end chinese-drywall rehabs or the luxury market.
As far as "Friends" go, The REO agent makes a deal with the devil & agrees to a lower commission in exchange for more listing inventory. A retail agent with a pre-approved buyer won't even get a return phone call from the listing office, or has to negotiate automated touch-tone prompts only to be left leaving a voicemail for no human to ever return the phone call. I wish the asset managers & banks truly knew how bad some of their chosen companies are to do business with...But then again, they ARE the cheapest in town & they're getting what they pay for.
According To Radar Logic;
Don't be Misled by Gains in Home Price Indices and Pending Home Sales; Housing Recovery is Still a Long Way Off
New York, NY - June 29,2011... more