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short sale: Why NAR shouldn’t Ban Short sales - 06/13/08 04:58 AM
You possibly have read the post “NAR should ban Short Sales”. Let me strongly disagree. Even if they could, they shouldn’t. We all need succesfull short sales and no-one more than lenders. I understand the frustration with the process. Lenders present to us total inability to handle the volume. But it is not just the volume. Most lenders “defend” themselves from doing short sales in a false hope that right after foreclosure, the price will move up again. They simply didn’t adjust to the new reality that it might take a while for prices to start moving up again. … (8 comments)
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short sale: Power of Human Spirit, Honesty and Ingenuity - 05/21/08 01:19 AM
You possibly read my post on Credit Consequences of the Short Sale. I wanted to share with you another story. I decided to do it in a separate post as while it is sad story it is also a wonderful example of human spirit, honesty and ingenuity.
Yesterday, I received another call from a homeowner with a question regarding options to get his life back on track. He and his family came to this country 7 years ago. 3 years ago they were able to fulfill their American dream and they bought a house. The house was very expensive and monthly … (0 comments)
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short sale: One more question regarding Short Sale - 08/31/07 07:50 PM
One more Short Sale question: Do you have experience in re-negotiating a short sale amount for a short term loan?
I know that if the difference between a mortgage amount and the sale price is too large, some lenders will not cover the full amount but will provide a borrower with an additional short term loan. Have you heard about a case when borrower was able to negotiate a short term loan only without the short sale payment by lender?
… (375 comments)
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short sale: Credit consequences of the Short Sale - 08/31/07 05:30 PM
CAR Short Listing Addendum form (CAR Form SSL, 8/07) clearly states:
"A Short Sale may have negative impact on Seller's credit rating even if foreclosure process has not officially begun or once begun, is not completed".
What is your experience with the Short Sale? Was your clients FICO score impacted? Always? Some times? Do you know how this might change once the new algorithm is in place in September? Please share your experience and thoughts.
… (187 comments)
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Artur Urbanski
Burlingame,
CA
More about me…
Cimpler Real Estate, Inc.
Address: 533 Airport Blvd., 4th Fl., Burlingame, CA, 94010
Office Phone: (650) 401-2245
Cell Phone: (415) 672-5051
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