Posted on: 13th Jan, 2009 01:20 pm
dear loan officer,
my husband and i are trying to purchase a home, but our credit criteria is not so good. we owned a house in illinios and we got behind on our payments so the bank decided to take our home, but before that we spoke to a realtor and she said for us to try and sale our house in a quick sale, we are unaware if wnything went through with that and we need some advice and some questions answered, if you could please contact me by phone that would be great. any questions you may have i can answer for you when you contact me. thank you for your time
Jennifer DeLuna
my husband and i are trying to purchase a home, but our credit criteria is not so good. we owned a house in illinios and we got behind on our payments so the bank decided to take our home, but before that we spoke to a realtor and she said for us to try and sale our house in a quick sale, we are unaware if wnything went through with that and we need some advice and some questions answered, if you could please contact me by phone that would be great. any questions you may have i can answer for you when you contact me. thank you for your time
Jennifer DeLuna
Jennifer,
If you want someone to contact you by phone, then it would be a good idea to post your phone number.
If you want someone to contact you by phone, then it would be a good idea to post your phone number.
Hi jdeluna!
Welcome to forums!
Did you apply for a short sale or a deed in lieu with the lender? If you have applied for any one of these, then you should contact the lender and check out if they have accepted your application or not. If they have accepted you application for either a short sale or a deed in lieu, then you will have to give away the property to the lender who will then sell it off in the market and recover the debts. If there is a deficient amount resulting from the sale, then it will be forgiven in a deed in lieu. In case of a short sale, you will have to pay the deficient amount.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
Did you apply for a short sale or a deed in lieu with the lender? If you have applied for any one of these, then you should contact the lender and check out if they have accepted your application or not. If they have accepted you application for either a short sale or a deed in lieu, then you will have to give away the property to the lender who will then sell it off in the market and recover the debts. If there is a deficient amount resulting from the sale, then it will be forgiven in a deed in lieu. In case of a short sale, you will have to pay the deficient amount.
Feel free to ask if you have further queries.
Sussane
jennifer it's hard to understand how you don't know what happened with your home.
had you already vacated the property? was the foreclosure finalized? by that i mean, did the bank actually take possession of the home?
had you already vacated the property? was the foreclosure finalized? by that i mean, did the bank actually take possession of the home?
