ZorbitEarth asked:


How do you to negotiate a short sale with your lender? Does anyone have any tips?

Thurman

Adri B asked:


Do you need to be behind on payments for the lender to accept the short sale?

Laurena

Art asked:


I’ve got tons of friends looking for a short sale and always tell them that these properties are not always the best deals, so buy cautiously. Besides the Multiple Listing Service listings with “Bank Approved” or “Bank Approval Required”, where can a person find a short sale property?

Gwenn

Tino asked:


I am trying to short-sale my property, and I got in contact with a company that specializes in buying short-sale properties. They are asking me to deed the title over to their company while they negotiate with my lender. I don’t feel comfortable signing away the title before the sale is approved, so I’m not going to do it, but I was just curious if this is normal procedure for a short sale.
I read the warranty deed, and it looks like they are wanting me to deed the title into a trust, in which I would be the beneficiary. Does anyone know exactly what this means?

Chanell

luke asked:


The 1099-B form from my brokerage firm shows a short sale as a sale proceeds amount and therefore IRS is going to treat it as a gain. But I didn’t buy to cover the short sale of stock.

Tonia

kmb391 asked:


I am current on my mortgage payments but my job needs me to relocate out of the state. My home value has gone down significantly since I bought it. I was working with a realtor and was informed that a short sale is my best option. How will this affect my credit?

Indira

kar3212 asked:


I found a wonderful property but it is now a short sale situation and I have to sell my current home in order to buy it. I was told that a offer contingent upon the sale of my current residence would not be accepted. Are there any other options?

Vanita

Martin O asked:


I short-sale my property in 2008. I’ll receive a 1099 from lender with “gains” for $60,000. I don’t know what to do to minimize my tax exposure. I was thinking about start contributing as much as possible to my 401k plan during this year to reduce my taxable income. Is this a good idea? What else can I do?

Denny

Casey asked:


I put in an offer for a short sale. I offered the asking price. This is a home that is an unbelievable steal. We were the first ones to make an offer and the homeowner accepted. But we know many others will also be interested. I know that the process takes a long time as our realtor told us it would be 30 days before the bank even assigns the case to someone. If someone offered more than the asking price what are the chances we can increase our bid to get the house? Do you think I’ll get this house?

Frederick

figg2112 asked:


We been at this short sale since Feb. The short sale negioater approved everything and submitted his approval to be signed off by his manager. That was 3 weeks ago and we are still waiting.

Leanna