Posted on: 06th Jul, 2008 10:38 am
With much remorse, I'm closing the short sale on my condo at the end of this month. I don't have to tell you how much of a hassle it has been.
I've heard and read a lot of conflicting information about the time line for purchasing another property. I know there are a lot of lenders on this site; what's the real scoop on how soon I can buy?
I need to get something I can afford as soon as possible; the mortgage interest is the only thing I can deduct, and I'll be taking a double-whammy tax-wise next year.
Thanks,
:(
I've heard and read a lot of conflicting information about the time line for purchasing another property. I know there are a lot of lenders on this site; what's the real scoop on how soon I can buy?
I need to get something I can afford as soon as possible; the mortgage interest is the only thing I can deduct, and I'll be taking a double-whammy tax-wise next year.
Thanks,
:(
well, some banks" are treating it as a foreclosure. You will have to go to private or non-traditional sources. I know I will since I had one in June 2009. Good luck
3 YRS. JUST GOT THE BAD NEWS TODAY. IT HAS BEEN 2 FOR ME. I WAS EXCITED AND REALIZED IVE GOTTA PUT THAT IDEA ON THE BACKBURNER FOR ANOTHER YR.
Hi bradwebertoyota,
Yes, you will have to wait for another year in order to get a mortgage after your property has been short sold.
Yes, you will have to wait for another year in order to get a mortgage after your property has been short sold.
I did a short sale at feb. 2011. But right now the loan amount still in my bank account. My ex-wife know I have no house to live with, so she wants to give me back the house what I sold her before for free. My question is could we do the title right now, or we have to wait until the loan amount has been take care?
Hi DavidO!
Welcome to forums!
If you have paid off the deficient balance resulting from the sale of the property, then you can request your wife to transfer the property to you immediately. However, you should contact a real estate attorney and take his opinion in this matter.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you have paid off the deficient balance resulting from the sale of the property, then you can request your wife to transfer the property to you immediately. However, you should contact a real estate attorney and take his opinion in this matter.
Feel free to ask if you've further queries.
Sussane
I want to do a short sale because I owe more on the house than the market value. I want to move to another state and get an apartment first and than maybe two year later move to a retirement community. At, the present I am keeping up with the payments, but I have other bills as well and the state is getting ready to impose a state tax for retirees. What can I do? I am totally alone in this matter. I haven't married yet, no family to help and no true friends.
Hi willie,
Unless you're delinquent on your mortgage payments, the lender will not consider your request for a short sale. Nevertheless, you should contact your lender and apply for short sale. The lender will check your situation and let you know whether or not he will consider your situation.
Take care.
Unless you're delinquent on your mortgage payments, the lender will not consider your request for a short sale. Nevertheless, you should contact your lender and apply for short sale. The lender will check your situation and let you know whether or not he will consider your situation.
Take care.
My home in florida owes 180.00 and I have already done a modification , :however , It was no reduction in the principal I still owe the same amont my payments have been on time for ten months , nevertheless, my home requires
great amount of repairs and I am having dificulties making the payments .
That is why I am considering a short sale . At the moment I will make every effort to continue making payments .
great amount of repairs and I am having dificulties making the payments .
That is why I am considering a short sale . At the moment I will make every effort to continue making payments .
Hi juan,
You can apply for a short sale if you are facing problems in paying off the mortgage payments. However, it remains a fact that it will be the discretion of the lender whether or not he will consider your request for short sale.
Thanks
You can apply for a short sale if you are facing problems in paying off the mortgage payments. However, it remains a fact that it will be the discretion of the lender whether or not he will consider your request for short sale.
Thanks
I DO WANT TO BUY A PROPERTY THA IS FOR SALE BUT I NEED TO SELL ANOTHER PROPERTY TO MAKE UP THE PAYMENTS FOR THE NEW ONE
Hi LUIS!
Welcome to forums!
Your query has been replied to in the given page: http://www.mortgagefit.com/postdeal/about53133.html . Please take a look at it. I hope it will help you.
Sussane
Welcome to forums!
Your query has been replied to in the given page: http://www.mortgagefit.com/postdeal/about53133.html . Please take a look at it. I hope it will help you.
Sussane
i was told to short sale my home due to a job lose i was never late on a payment.after that i was in total debt so i had to file bankrupcy by my lender after i short sale,now i can't even apply for a credit card..i have a good job now..how can i get back on track to rebuy a home.
i have a question . i closed a shortsale feb of 2011 . my credit and my spouses credit score are already in the low 700 . what are chances we can qualify for home loan with a decent int rate
Hi Guest!
Welcome to forums!
After a short sale, you will have to wait for 2-3 years in order to qualify for a new mortgage.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
After a short sale, you will have to wait for 2-3 years in order to qualify for a new mortgage.
Feel free to ask if you've further queries.
Sussane
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