nashville short sale: Can I Do a Short Sale on Investment and/or Rented Property - Nashville, TN
- 12/01/10 04:00 AM
If you are exploring the idea of a Nashville short sale, you may be wondering, "can I do a short sale on a home that is an investment property or a home that was my primary residence, but is now rented." There are many people in Nashville and Middle Tennessee that bought investment real estate but now find themselves with a cash flow shortage and a property that is worth less than they originally paid. Others bought a home as their primary residence but suffered some sort of financial hardship (job loss, death of a family member, mandatory relocation, marital separation … (0 comments)
nashville short sale: Why Do Banks Prefer Short Sales over Foreclosures? Nashville, TN
- 08/23/10 11:31 AM
If you are a home owner considering a short sale, you may be wondering "why would the bank approve my short sale instead of foreclosing?" This is a common question among my Nashville Short sale clients. The fact of the matter is, statistically banks recoup more of their money with a short sale than they do with a foreclosure. Make no mistake, banks do not approve short sales to help out sellers or because they are compassionate towards your financial hardship. They are in business to make money and they will do whatever they think will recover the largest percentage of … (3 comments)
nashville short sale: Can I Do A Short Sale if I Have Two Mortgages - Nashville, TN
- 07/08/10 10:30 AM
It is not uncommon for sellers to have more than one mortgage on their home. Sellers often ask us "Can I do a short sale if I have two mortgages?" The simple answer is yes! Sellers attempting to do a short sale with more than one mortgage on their property fall into two categories. 1) Those that have a first mortgage that will be paid in full but a second mortgage that will be deficient. This occurs when the market value (what a ready, willing and able buyer will pay in the current market) of the home is enough to pay off the first mortgage and costs associated … (1 comments)
nashville short sale: How Much Will a Short Sale Affect My Credit - Nashville, TN
- 06/30/10 06:52 AM
One of the most common questions I get asked when discussing short sales with a prospective seller is, "How much will a short sale affect my credit?" This is a loaded question and there is no definitive answer. A quick Google search for this query yielded responses that ranged from "not at all" to "over 250 points." So which is it? What effect will the short sale have on your credit? While there is no all encompassing answer to this question, the following items will play a roll in the credit consequences of your short sale. A short sale is not … (1 comments)
nashville short sale: Do I Qualify for a Short Sale?
- 05/21/10 04:52 AM
As an experienced short sale agent in Nashville and the surrounding areas, I often get asked what makes someone eligible for a short sale. It is not enough to simply be underwater on the property. Just because the home is worth less than the outstanding mortgage balance does not qualify a home owner for a short sale. Below are a few important items lenders consider when reviewing a short sale. 1) Financial Hardship - the Seller must show (via a hardship letter) that they are encountering some form of a financial hardship. Examples of common financial hardships are job-loss, mandatory job relocation, illness of … (2 comments)
nashville short sale: Nashville Short Sale Blog - Introduction
- 05/20/10 04:47 PM
As a Certified Distressed Property Expert (CDPE) and a Real Estate Specialist with extensive short sale experience, I'm passionate about sharing my knowledge with others. If you are a real estate agent or a homeowner that has questoins about Nashville Short Sales, contact me today. Our systems and proven processes allow us to successfully close on over 90% of our Middle Tennessee Short Sales. If your home is worth less than the outstanding mortgage balance and you are distressed (i.e. job loss, mandatory relocation, illness, loss of a family member etc.)and you need to sell, a short sale can be a positive alternative to foreclosure. To … (4 comments)
If you are exploring the idea of a Nashville short sale, you may be wondering, "can I do a short sale on a home that is an investment property or a home that was my primary residence, but is now rented."
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