*Lily* asked:


Will the bank accept any offer in a short sale?
If the original amount own is $ 230,000 what is the lowest offer that the bank will take?
How does this process work?
I have someone that is interesting in buying the house. But He wants to know much he should offer?

Herlinda

Chris asked:


HomeEq is telling their borrowers that if they can’t make their payments, they can short-sell to themselves. How is this possible? Are there any banks that will forgive a portion of the balance owed on a home in order to keep a borrower in the home and lower payments?

Kelley

pichon asked:


I am house shopping and I would like to know what exactly amount does the bank owe on a house which is bank owned?

Why do people do SHORT SALES?

What are foreclosures?

Al

Mike T asked:


What are the basic requirements for a short sale? Do I have to be late on my payments? Am I not qualified for a short sale if I have lost my job…but have money in the bank? Or, does a lender expect me to drain my entire savings before they will agree to a short sale?

Antwan

josh s asked:


If you have a upside down loan on a house then get another loan on a new house then try to short sale will the banks get mad and try to go after your assets or try to make you pay back the difference on the first loan?

Parthenia

Jennifer M asked:


I have a short sale offer in to Flagstar Bank. The person assigned was Anita Childs. I was just wondering if anyone had experience with this woman for a short sale? (I am the purchaser – not the seller so I can’t call her up to get status).

Thanks for any help you can provide.

Silvana

Olivia D asked:


Lien on property from city of Pomona for a garage door that was not installed in 1963 after the Model home was sold. Now the listing agent wants to back out of the deal now that the bank has agreed to the short sale, because there is a lien on the title of the house because permits were not pulled to install windows and re-roof the house and the garage door was never installed. Can he do that?
Now he won’t give my deposit check to escrow and is holding up the bank by not giving them a total loss estimate that details all the fees of selling the home.

Sean

Nelly H asked:


need to know the difference between short sale & bank owned homes.

Samantha

babyblue20212004 asked:


My fiance and his ex wife did a short sale on their house together. They sent his ex wife the 1099 that is standard. However, today my fiance recieved a call from a collection agency for the bank that they did the short sale with trying to collect money. They did the short sale over a yr ago. This is the first attempt to contact either my fiance or his ex wife. Can they do that? Neither has ever recieved mail about it or warnings or phone calls. This came out of nowhere. What should be done?
It showed that the remaining debt was zero though? Their debt had been satisfied.

Bobby

American_Nawaab_786 asked:


At the height of the real estate market, I purchased a house in Northern VA for $650k (mortgaged $600k). The house is 15 years old and needs about $75k worth of work. I am currently in a financial bind (job layoff). I have not paid my mortgage in 2 months. The house is worth 60%+/- of what I bought it for based upon comps in the neighborhood. The house has been on the market for 6 months and has had ZERO interest. The mortgage companies have allowed me to sell my house in a Short Sale. The question is, will banks take $350k for a $600k note in a Short Sale? That is a huge reduction!
The $600k mortgage is from two different lenders. $400k is the main mortgage, $200k is a home equity loan.

Donn