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Foreclosure in Springboro : Real Estate Advice

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  • Home Buying8
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Activity 3
Tue Apr 28, 2009
Christina Cavins answered:
Hi Anne!

I'd love to help explain the Mortgage Forgiveness Debt Relief Act for you! Please check out this article for complete details http://activerain.com/blogsview/1054279/What-Mortgage-Forgiveness-Means-For-You and please let me know if you have anymore questions at anytime.

Thanks,
Christina Asad Edwards, Realtor
Christina.Asad@RealLiving.com
Office 937-573-0082
Cell/Text 937-205-4741
www.DaytonOhioHouse.com
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Sun Apr 26, 2009
Keith Sorem answered:
Anne
You need to find a Realtor with short sale experience. From the lender's point of view, it is better for them (that means costs them less money), for a short sale than foreclosure.

Sometimes if a sharp Realtor contacts the bank they can negotiate the best outcome for your family. This means if they, as a professional, contact the bank, the bank knows that you have made decision not to just walk away , but to try to do the right thing.

There is such a thing as honor. You have a debt. A mortgage is a promise to pay. Let them know that you are honorable people and are not abdicating your responsibility. You may be surprised. They may honor your commitment and help you.

If you need a referral let me know.
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Wed Feb 6, 2008
J R answered:
Unfortunately it can take the bank as many as 120 days to make their decision, and there isn't anything the agent can do to hurry them along. Every short sale expert I have heard has said the key is explaining to the buyer they have to have patience. Good luck!

And it is the bank who decides what to take, as far as the price goes. You should have all the inspections your agent suggests. In my area that would be an engineer inspection and a termite inspection. Sometimes there are water tests. Your area may be different.
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