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Short Sale Questions All Locations : Nationwide Real Estate Advice

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Showing results for Short Sale Questions [Clear search]
Wed Apr 10, 2013
Jim Olive answered:
Okay...first off it is NOT bullying!! Nobody can answer this question without reading your lease. What does it say about guests/visitors? Your landlord cannot make unreasonable rules that aren't covered by the lease. ... more
0 votes 3 answers Share Flag
Fri Jul 19, 2013
Keisha Mathews answered:
Hello,

With a short sale, your lender is looking for your inability to pay due to a financial hardship. You would need to be able to prove that you can no longer afford the mortgage. I don't believe that your additional properties would be taken into consideration. I could be wrong. However, I speak from my own personal short sale experiences. I have helped clients short sale investment properties because they were able to prove financial hardship - something in their financials had changed from the time the borrowers first qualified for the loan to current.

Ultimately the decision is your lender's (the investor's). My advice, if you can prove hardship, is to give it a try. You have a 50/50 chance.

Hope that helps.

Keisha Mathews, REALTOR®
CDPE®, HRC®, HAFA® Certified
"SAR Masters Club Member 2012"
Mathews & Co. Realty Group
@ Century 21 Landmark Network
keisha.mathews@century21.com
www.SheSoldItForMe.com
(916) 370-1803 cell
lic#: 01439130
... more
0 votes 10 answers Share Flag
Thu Feb 6, 2014
Sloan Yorek answered:
I'd recommend speaking with DeAnna Morgan with Benchmark, she can probably work with this... 817-944-8094 or DeAnna.Morgan@benchmark.us
0 votes 20 answers Share Flag
Thu Apr 11, 2013
Catherine Sawatsky answered:
One of the best places to start is find a Realtor you can trust. Most Real Estate agents work and have knowledge of about a half a dozen good Lenders. A good Realtor will help you find the right lender and this can really help you have a smooth transaction. From expereince you want to work with a local lender somebody you can meet with and talk to whenever you need to. Online lending is difficult for the buyer, the Realtor and the title and escrow company. I have several lenders I can refer just let me know. ... more
0 votes 8 answers Share Flag
Wed May 18, 2016
Mohamed Elsayed answered:
Justin,

I am a licensed Realtor who lives and works in Miami Beach.
I have a wide selection of properties for you.

Check my web site to have an idea. www.LivinFlorida.com

Regards,

Mohamed Elsayed
Realtor Associate
Global Luxury Realty, LLC.
Cell: 786.213.5025
Mohamed@LivinFlorida.com
www.LivinFlorida.com
... more
0 votes 15 answers Share Flag
Thu Apr 11, 2013
Deborah A. Ten Brink answered:
It would be very helpful to know where you have already tried and have been turned down and what the lender's reasoning was for not considering the loan. I would need more details before I could suggest a solution.

Deborah A. Ten Brink
REALTOR®
Cell: (239) 440-1059
CG REZ, LLC
13379 McGregor Blvd.
Suite 2
Fort Myers, FL 33919
realestatewithdeborah@gmail.com
http://lehigh-inventory.deborahtenbrink.com/
http://www.facebook.com/REwithDeborah
... more
0 votes 7 answers Share Flag
Thu Apr 11, 2013
Frederic Din answered:
HI Rick, thank you for asking your questions on http://trulia.com

I appreciate your question and agree that many believe the banks/lender/investors are holding foreclosed properties in inventory and may be slow to release them.

I can see this affecting properties only for a short term, I mean there is demand in homes for sale, sales prices are rising slightly ( I recently blogged about this and you can read more at http://blog.imperialvalleyreo.com) and interest rates are low, so home buyers can afford more home.

Locally there are some properties that are still vacant and are not on the market, I know as I inspect these for banks/lenders and investors, some foreclosure properties are being rented/leased back to the occupant or prior owner thus paying their rents to FannieMae or FreddieMac.

But back to your question, right now we are in a sellers market, I blogged about this same topic and touch base regarding a buyers market as well, you can read more about it here http://blog.imperialvalleyreo.com/?p=1517

I hope this helps answer your question and understand this, homes are a long term investment. Meaning, home values and prices will rise and fall, but ever so slightly either way, but if your goal is to hold/live in the home for more than 5 or 10 years, you should definitely see an increase in value, just as long as the buyers do not continue to tap into any equity that comes around and as long as the home is taken care of and updated.

Let me know how I can help you further, thank you.

Sincerely,
Frederic Din, REALTOR(R)
"Your Imperial Valley Housing Specialist"
CA DRE Lic #01274420
info@ivforeclosures.com

Call: 760-235-4885
FAX: 760-259-2037

View listings on the go
Info & photos on your cell phone
Text GOTO IVREO to 95495
... more
0 votes 5 answers Share Flag
Sat Jul 20, 2013
Jennifer Tramontana answered:
My suggestion would be to contact a loan officer (if you need a referral, I can certainly provide one to you) so they can tell you EXACTLY what you need to do in order to be able to purchase a home again. The other option you have is to purchase a property where the owner is offering owner financing, lease with the option to buy or land contract.
For more information, please feel free to call email me directly at jenandersonrealtor@gmail.com.
Thanks!
Jen Tramontana, REALTOR
Keller Williams Elite Western Branch
... more
0 votes 5 answers Share Flag
Tue Apr 8, 2014
Bill Mccord answered:
This is the Free Market in it's most perfect form. Housing is a Commodity where there is currently more Demand than Supply. (At least in Silicon Valley)
Sellers sensibly sell to the best (NOT ALWAYS HIGHEST) Bidder.
"Week" Buyers drop out of the game.
Rising prices bring out more Sellers.
Prices stabilize and a period of calm ensues.
After a variable amount of time (often years) the cycle begins again, either upward or downward.

If you choose to continue play then you need to be aware of all the options available to year during this phase of the cycle, including the Pro's and Con's of dropping out.
As you are competing most of the time with professional investors you need to know the rules they play under. You need professional help.
Good luck
Bill
... more
0 votes 16 answers Share Flag
Tue Apr 9, 2013
Kathy Persha answered:
I have a lender who will grant a loan if credit score is good. This particular bank will approve loans for my clients even immediately after a short sale if they qualify. I just got another person qualified who found me on Trulia and we are now making offers on houses for him. If you qualify, we can probably get your qualification letter within 48 hours.

This is a small private bank and they do not sell the loans, therefore, they have much more say about who they approve since they keep the loans in house. If you would like more information, please contact me at 248-930-0198.

Kathy Persha, Broker
GRI, CDPE, SFR, CIAS
Nextage Advanced Realty
248-930-0198
... more
0 votes 2 answers Share Flag
Sun May 18, 2014
Ron Thomas answered:
We have heard this senario hundreds, maybe thousands, of times in the last few years:
If the Bank says it will 2 months; it probably will be 5 months. I have seen a year!
Up to you: If you are patient and really, really want the house; then be patient.
If you will kick yourself for waiting for nothing, and miss out on the deals the next few months; then walk away.
Waiting for the Trustee Sale is not much better; it will 3-5 months until that is Listed too.
There are a lot of houses out there, maybe a better home and deal will reveal itself.
... more
0 votes 26 answers Share Flag
Sun Nov 1, 2015
Kylee Roe answered:
Your ability to obtain a loan will require good credit-score of 640 or so, and low enough debt to income ratio (showing your willingness and ability to repay the lender). Good rental payment history is a feather in your cap, but not the main criteria a lender considers in making a loan.

If you are buying in Texas (GO COWBOYS!), speak to a lender there. If your poor credit is the result of late pays and charge offs, that's worse than if your score is low because you've never established much credit, than that's different. If you speak with a lender, a good one will work with you to fix the poor credit so you can get a loan. It's a process requiring some time, but better to get started than to wait.

Good luck.
... more
0 votes 11 answers Share Flag
Mon Apr 8, 2013
Jeff Mason answered:
If the owner is currently in a chapter 13 bankrupcy it can postpone the trustees sale for over 5 years. That is usually why a sale gets postponed over and over.
0 votes 5 answers Share Flag
Tue Apr 9, 2013
Phil Rotondo answered:
A lot of questions.
To be safe and sure, you should consult an attorney.
0 votes 2 answers Share Flag
Tue May 21, 2013
Jason Killam answered:
6.8 miles. see map here on link: http://goo.gl/maps/eT0Xu
Let me know how I can help with your real estate needs.
Thanks,
Jason Killam
jason@killamrealestate.com
0 votes 4 answers Share Flag
Yesterday at 11:28pm
Joe Roman answered:
Hello Miz Repped;

I cannot give you an exact time frame as to how long it would take to increase your credit score, but I do know that a mortgage broker can run your score free of charge provided you eventually work with that broker. The score include all three bureaus which will indicate what steps you'll need to take in order to raise your score to 680 asap. You can also to credit.com and pay a fee and run your score yourself and determine what you need to do. That choice is yours! If you need to be in contact with a good mortgage broker that can help you get a home through various low down payment programs, call me @ 954-557-3416 and I'll be glad to give you his contact info.

Sincerely;
Joe Roman
ERA Herman Group Real Estate
josephwroman@gmail.com
www.realestateinsouthfla.com
... more
0 votes 147 answers Share Flag
Fri Jul 12, 2013
Meg Sahdala answered:
Dear Marisol, I work with Different banks and they have solutions even for clients with a very low credit score. Please contact me directly at Meg@ViviendaRealtors.com
0 votes 9 answers Share Flag
Wed Apr 10, 2013
Stephen McRory answered:
-
-
Maybe 10 months? Maybe 24 months?

I'd get stop chasing that carrot right now and find a re-sale or foreclosure that will actually close and before you a put thru 10 months of &^%$#

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... more
0 votes 7 answers Share Flag
Mon Apr 8, 2013
Marilyn Farber Jacobs answered:
Yes, and it will also give you an accurate picture of what price house to purchase.

If you need the name of a mortgage broker, call me and I would also be happy to help you find "the home of your dreams."

Regards,
Marilyn Jacobs, Realtor
561-638-9818
marilynfjacobs@gmail.com
Jeffrey Ray & Associates
... more
0 votes 7 answers Share Flag
Mon Apr 8, 2013
Susan Goulding, 01490605 answered:
Great questions that a fantastic lender can answer. There are a lot of variables when making the determination of how much you can afford. It depends on your credit score, other expenses, etc.

I'm happy to recommend several great lenders in the local Lathrop area if you'd like to email me directly.

Susan@CrownKeyRealty.com
... more
0 votes 10 answers Share Flag
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