These are not in order of what people think but I bet when you read the following 5 of 10 statements about short sales & foreclosures that you will SO SO recognize some of these.
- Why can't I short sale my home to my parents? Sometimes (not always), your lender will have you sign an ARMS LENGTH AGREEMENT that states you won't, but it's possible if you disclose it to the bank.
- I am so upside down on my home, is that a GOOD enough reason to short sale my home? most of the time this is not a good enough reason, but I have heard of banks saying yes (or not even asking for your reason)
- I really want to stay in my home BUT I'll never gain back the equity I had before (at least in the next 10 years). Does it really matter how much equity you have if you can afford you monthly payment? That is something that only you can determine.
- We just remodeled our home & it's perfect for us BUT not perfect in property value. Have you had any life changes in your family that make your payment hard to do? Do you foresee any problems making your mortgage payment from something that is going to happen soon?
- My co-worker bought a house first & then let their old house foreclose, WHY can't I do it? It's like the old saying goes that I heard growing up, "If your friend jumped off the Golden Gate Bridge, would you do it?", maybe we should add to that saying & ask, "If your friend jumped off the Golden Gate Bridge, does that make it the right thing to do?"
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