Jumbo NOO Loans PLEASE HELP!!!!

This Account No Longer Exists (Inactive Account) — Fri, 20 Mar 2009 21:41:29 -0700

I have a builder who's builds 2.5m - 4million dollar houses in this market and has buyers on standby with perfect credit and 30% down. The are oceanfront rental properties that cashflow and I cannot find a home for this ...Does anyone know of a lender that can help, we may be able to do 35% down.

Deficiency Judgements for shortsale

This Account No Longer Exists (Inactive Account) — Tue, 20 Jan 2009 09:07:01 -0800

Hey Fellow Active Rainers, I have a sister who's working with on shortseling her home with a bank, she received an offer from a buyer, submitted it, the banks counteroffer on it for $470,000. She owes $512 and the offer was for $450k. This was the first counter offer i experienced on a resonable offer . The bank insists on speaking with my sister and gives her 2 options:

Option A:

Sell the home for $450,000 and they'll come after her for a $100,000 deficiency Judgement

Option B:

Sell the home for $450,000 and bring $20k to the closing table and they will not come after her for any deficiancy judgements

I heard on the news that as of 2009 , the banks were not going to come after home owners if the shortsaled their owned occupied residence. I'm not sure if this applies to va,fha or conventional loan types. Any feedback is greatly appreciated.

This Account No Longer Exists's Blog

Jumbo NOO Loans PLEASE HELP!!!!

Deficiency Judgements for shortsale