oakley short sales: How Long Do I Have To Wait After A Oakley Short Sale To Buy Another Home?
- 06/18/11 07:06 AM
Oakley CA - The Stop Foreclosure Institute gets asked this question quite a bit. The answer depends on the type of loan you are looking to use to purchase your next home.Here are the details on your options to buy another home after a short sale. Get my Free, Step By Step Loan Modification Guide by clicking here.Owner Financing. You can buy a home with owner financing anytime after a short sale.FHA Financing. (FHA is very popular because it only requires you to put down 3.5% and pay your closing costs. You can usually convince the seller to pay your closing … (1 comments)
Oakley CA - The biggest advantage a short sale has over a foreclosure is that you can buy your next home much sooner. Get my Free, Step By Step Loan Modification Guide by clicking here.Here was our answer to Dan's Question. Under current lending guidelines, you can buy another home in 3 years after a short sale. After a foreclosure you have to wait 5-7 years in most cases.(FHA's current guidelines state that you can get an FHA loan immediately after a short sale, provided that you never missed a payment. If you were in default at the time … (0 comments)
Oakley CA - The Stop Foreclosure Institute recently received a question from Dan. Here was Dan’s Question. "I recently purchased another home and tried to sell my former home. It isn’t selling and I can’t afford to make both payments. The home won’t rent for even 1/2 of the mortgage payment. An agent told me the house is worth about $50K under the mortgage amount. Is it realistic for me to try the short sale? The only hardship created was when I decided to move to a larger home for family. Dan." Get my Free, Step By Step Loan … (2 comments)
oakley short sales: Another Common Oakley Short Sale Myth: The Foreclosure Process Goes So Fast That I Don’t Have Time To Short Sale
- 06/15/11 08:14 PM
Another Common Oakley Short Sale Myth: The Foreclosure Process Goes So Fast That I Don't Have Time To Short Sale Oakley CA – The Stop foreclosure Institute recently received a question from Susan about short sales. Here was Susan’s Question. “My home is scheduled to be going on the courthouse steps in about 2 months. I had thought about short selling, but a friend told me I wouldn’t have enough time to do it. Because of that I didn’t pursue a short sale earlier. Recently I decided to look into it further. It looks like a good option compared … (1 comments)
oakley short sales: Oakley Short Sales: Is It Legal For A Seller to Buy The House He Is Short Selling?
- 01/24/11 07:57 AM
Oakley CA – The Stop Foreclosure Institute recently received a question from Mau. Here is Mau's Question. "Is it legal for a short sale seller to buy the house he is selling on short to reduce his mortgage loan?” asked Mau. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Here was our answer. We don’t know of any law on the books that forbids a person from buying a home they are short selling. Here is what we do know. Most banks and lenders don’t allow it. If the short sale negotiator … (0 comments)
oakley short sales: Oakley Short Sales: Will your short sale be killed by bureaucracy?
- 12/27/10 06:47 PM
Oakley CA - "I can't process this short sale without the TPS form filled out with the seller's full name", the short sale negotiator told him. "But, based on my calculations, this short sale will help your company avoid a $17,000 loss", he replied. "So, you're telling me that unless I can get you the TPG form filled out, then you will reject this short sale and subject your company to a potential $17,000 loss,?" "Yes, you are right", she replied. "But $17,000 is a lot of money. Don't you agree?", he replied back. "I don't care about the money. The … (0 comments)
oakley short sales: Oakley Short Sales: A Few Examples of Loan Servicers Not Doing Their Job
- 11/29/10 04:46 AM
Oakley CA - Most people think the person they mail their mortgage payment to every month is the owner of their loan. Not so. In fact, most of the time, they are not the owner. As an example, 80% of all loans that Bank of America handles are not owned by Bank of America. The largest owners of US mortgages are two companies that some would allege are owned by Uncle Sam. They are Fannie Mae and Freddie Mac. They own an estimated 55-60% of all US Mortgages. Another estimated 10-15% are insured by Uncle Sam as well, thru the … (0 comments)
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Oakley CA - The Stop Foreclosure Institute gets asked this question quite a bit. The answer depends on the type of loan you are looking to use to purchase your next home.Here are the details on your options to buy another home after a short sale. Get my Free, Step By Step Loan Modification Guide by clicking here.Owner Financing. You can buy a home with owner financing anytime after a short sale.FHA Financing. (FHA is very popular because it only requires you to put down 3.5% and pay your closing costs. You can usually convince the seller to pay your closing … (1 comments)
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