The Short Sale That Got Away

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The One That Got Away There is no short sale which can be completed without some damaging consequences to your credit standing. Please read About MARS Disclosures, Shorts Sales and Short Sale Fraud on my homepage prior to talking to a listing agent about doing a short sale on your home.

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3 days ago. In the most basic definition, a short sale is the process of selling a. Pros: A seller who chooses to sell with a short sale can get out from an.

A short sale seller contacted me last week to tell me that Citi has offered him $35,000 to sell his home. He sent me a copy of the letter he received in the mail, and it is true. Citi is offering him $35,000 (terms and conditions apply) to sell his home valued at $335,000 in a short sale.

Nevertheless, a short sale will likely prevent you from getting another mortgage right away. The amount of time you must wait before applying for a new mortgage loan depends on the type of lender and your financial circumstances. Read on to learn more. Getting an FHA Loan After a Short Sale

In a short sale, the lender accepts less than what is owed on the mortgage. Sellers initiate short sales because the value of the home is less than the loan balance and they can no longer afford.

6 Reasons to Stay Away from Short Sales – – A short sale usually happens, as of late, when a homeowner defaults on their mortgage and they are looking to get out of the obligation before a foreclosure.

Realize that short sales are negotiated between sellers and their bank – Buyers mistakenly believe that they are negotiating with the bank on a short sale. In reality, short sale approval is a process that occurs only between the seller and their lender. Both of them need to agree on the final short sale terms.