short sale faq: Common Questions And Answers About Florida Short Sales - 02/14/13 09:57 PM

1) What is the likelihood that the bank refuses to let us do a short sale on the grounds that they don't think our financial situation is dire enough?  Is the hardship we discussed sufficient or is there some specific amount of financial desperation we need to prove?  You may not have enough info from us to answer this at this point.  If so, please let me know what you need to know from us on this, or maybe get the lowdown from xxx on the phone of the overall financial picture.  If we have to prove something and can't quite … (3 comments)

short sale faq: Will The Short Sale Lender Request A Cash Contribution? - 11/28/12 09:05 PM
Well that's a great question. Making a cash contribution and/or signing a promissory note is called "Participating in the loss". Whether or not you are asked to participate in the loss is based on several factors. Your.....
Cash reserves Credit score How delinquent you are Income level As of November 1, 2012 the Federal Housing Finance Authority intiated new Streamlined Short Sale Guidelines that apply to all Fannie Mae and Freddie Mac mortgages.
In a nutshell:
          Cash Contributions - Borrowers that are less than 31 days delinquent MUST make a cash contribution to the loss.  And borrowers more than … (8 comments)

 
Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) Rainmaker large

Bryant Tutas

Selling Florida one home at a time

Winter Garden, FL

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Tutas Towne Realty, Inc and Garden Views Realty, LLC

Address: 628 Grand Canal Dr, Poinciana, Fl, 34759

Office: (407) 870-9003

Mobile: (407) 873-2747

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