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short sale

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juleen Guest	Posted: Wed Nov 23, 2011 5:18 pm    Post subject: short sale Like 0 Dislike 0 Can anyone short sale because house is upside down and morgage is up to date? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
sabrinatoss Community Expert Joined: 16 Jan 2011 Posts: 516 Location: Australia 82.74 Dollars($)	Posted: Wed Nov 23, 2011 6:01 pm    Post subject: Like 0 Dislike 0 Hello juleen, If the seller can buy that stock later at a lower price, a profit results; if the price rises, however, a loss results. A commodity sold short represents a promise to deliver the commodity at a set price on a future date. Most commodity short sales are covered before the delivery date. "SS" _________________ Home Loan, Mortgage Insurance Calculator, Mortgage Broker
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed Nov 23, 2011 7:59 pm    Post subject: Like 0 Dislike 0 Hi juleen! Welcome to forums! If the mortgage is up-to-date, then the lender won't be ready to consider your request for a short sale. You have to be delinquent on your mortgage payments in order to agree to a short sale. Feel free to ask if you've further queries. Sussane
jveenstra Community Expert Joined: 10 Nov 2008 Posts: 1310 Location: River Edge, New Jersey 274.62 Dollars($)	Posted: Mon Nov 28, 2011 7:25 am    Post subject: Short Sale Like 0 Dislike 0 You do not have to be delinquent on your mortgage to do a short sale You do need to make a case as to why you will not be able to continue making mortgage payments I have seen owners borrow money from relatives for two year to keep the mortgage current while a short sale was being processed, knowing they could not borrow any more money and the mortgage would be late sometime soon The point is, it can be done. It may not be easy, but, it can be done. _________________ John Veenstra, Sr Mortgage Consultant Approved Funding Corp Licensed NJ NY CT PA 201-833-0123x278
gentsch Guest	Posted: Thu Dec 15, 2011 10:40 am    Post subject: sort sale Like 0 Dislike 0 we are upside down loan is 275 and the homes in here are selling for 175 to 200. we would like to get out from under this . rather than just walking, is short sale an option, at least the bamk would get some money rather than 0
jveenstra Community Expert Joined: 10 Nov 2008 Posts: 1310 Location: River Edge, New Jersey 274.62 Dollars($)	Posted: Thu Dec 15, 2011 10:53 am    Post subject: Short Sale Like 0 Dislike 0 Short sale is an option. The bank will get some money rather than 0 whether they approve a short sale or foreclose and sell the property themselves or accept from you a deed-in-lieu of foreclosure and then sell the property themselves. They have to spend money to go through the foreclosure process, so, if they takeover by that process they spend more money than just losing money on a short sale. So, the bank always gets money. The bank may get more money through foreclosue or a deed-in-lieu than they would accepting your short sale. It depends on how much you sell the property for they would on your short sale. So, the bank getting some money rather than 0 is no reason at all for the bank to accept a short sale. For a short sale you will need to sell the property and prove to the bank what financial hardship prevents you from paying the mortgage anymore. _________________ John Veenstra, Sr Mortgage Consultant Approved Funding Corp Licensed NJ NY CT PA 201-833-0123x278
alvinajohn Joined: 25 Dec 2011 Posts: 38 7.96 Dollars($)	Posted: Tue Jan 03, 2012 3:48 am    Post subject: re Like 0 Dislike 0 jveenstra i am agree with you, bank will never earn zero whatever option it takes either foreclosure or short sale! _________________ www.foreclosures-gov.ca

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