Comments on: Does this seem logical? Do a short sale on one home we own, and buy something that we will stay in for years? http://forcloseaid.com/short-sale-hardship/does-this-seem-logical-do-a-short-sale-on-one-home-we-own-and-buy-something-that-we-will-stay-in-for-years/ The Foreclosure News Source Tue, 06 Jul 2010 05:48:15 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Workfortoday http://forcloseaid.com/short-sale-hardship/does-this-seem-logical-do-a-short-sale-on-one-home-we-own-and-buy-something-that-we-will-stay-in-for-years/comment-page-1/#comment-292 Workfortoday Fri, 27 Mar 2009 05:12:27 +0000 http://forcloseaid.com/short-sale-hardship/does-this-seem-logical-do-a-short-sale-on-one-home-we-own-and-buy-something-that-we-will-stay-in-for-years/#comment-292 Hi you guys, Yeah don't feel bad, right now I see (I am an agent) a lot of hard working, honest good hearted folks that have the same problem. I also see a lot of short sales. What I would do is contact a real estate agent there and over the phone tell them it would have to be a short sale transaction. They can still get paid to help you and you wouldn't have to take money out of your pocket to do so. I have done this many times. But you should tell your agent you need a quick quick sale. See it will sell fast if you price it for quick sale BUT the thing that takes time to get approved is the short sale. The bank, your loan holder, will have to approve it. However right now I haven't seen them turn a short sale down. I am sure they do sometimes but I haven't seen it yet as they know how the market is. Get an agent that specializes in your area. You can get this problem out from under you without having to put any money in. It could save your credit too. Go to site below and click on PROPERTY RESEARCH and it will show you what you should price it at based on scientific data and facts in your neighborhood. Hi you guys, Yeah don’t feel bad, right now I see (I am an agent) a lot of hard working, honest good hearted folks that have the same problem.

I also see a lot of short sales. What I would do is contact a real estate agent there and over the phone tell them it would have to be a short sale transaction.

They can still get paid to help you and you wouldn’t have to take money out of your pocket to do so.

I have done this many times. But you should tell your agent you need a quick quick sale.

See it will sell fast if you price it for quick sale BUT the thing that takes time to get approved is the short sale. The bank, your loan holder, will have to approve it.

However right now I haven’t seen them turn a short sale down. I am sure they do sometimes but I haven’t seen it yet as they know how the market is.

Get an agent that specializes in your area. You can get this problem out from under you without having to put any money in.

It could save your credit too.

Go to site below and click on PROPERTY RESEARCH and it will show you what you should price it at based on scientific data and facts in your neighborhood.

]]> By: sprintcardrvr http://forcloseaid.com/short-sale-hardship/does-this-seem-logical-do-a-short-sale-on-one-home-we-own-and-buy-something-that-we-will-stay-in-for-years/comment-page-1/#comment-291 sprintcardrvr Thu, 26 Mar 2009 18:38:17 +0000 http://forcloseaid.com/short-sale-hardship/does-this-seem-logical-do-a-short-sale-on-one-home-we-own-and-buy-something-that-we-will-stay-in-for-years/#comment-291 I see two options which would keep your credit. Re market the home with an Iron clad lease option enough money down or other collateral so you are reasonably sure the buyer will exercise the option. Or owner finance with a land contract the buyer doesn't get a clear deed until he pays you off; in the interim you are using his money to pay your obligations. above all protect your credit I see two options which would keep your credit.
Re market the home with an Iron clad lease option enough money down or other collateral so you are reasonably sure the buyer will exercise the option.
Or owner finance with a land contract the buyer doesn’t get a clear deed until he pays you off; in the interim you are using his money to pay your obligations.
above all protect your credit

]]> By: redwine http://forcloseaid.com/short-sale-hardship/does-this-seem-logical-do-a-short-sale-on-one-home-we-own-and-buy-something-that-we-will-stay-in-for-years/comment-page-1/#comment-290 redwine Tue, 24 Mar 2009 20:30:18 +0000 http://forcloseaid.com/short-sale-hardship/does-this-seem-logical-do-a-short-sale-on-one-home-we-own-and-buy-something-that-we-will-stay-in-for-years/#comment-290 How do you do a short sale on a house? Are you going to sell it outright? Bank will not let you off the hook if you owe them money, you will need to satisfy the loan in orer to be able to sell the house. Your situation sounds complicated, but if you can sell the bad house and have equity to buy a house you will stay in, that sounds like a good idea. However, your description does not sound like you can afford to sell the old house and buy a new one. How do you do a short sale on a house? Are you going to sell it outright? Bank will not let you off the hook if you owe them money, you will need to satisfy the loan in orer to be able to sell the house. Your situation sounds complicated, but if you can sell the bad house and have equity to buy a house you will stay in, that sounds like a good idea. However, your description does not sound like you can afford to sell the old house and buy a new one.

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