Comments on: What is a Home Mortgage Short Sale? http://www.bankaholic.com/finance/what-is-a-home-mortgage-short-sale/ Blogging about personal finance, foreclosures, mortgages, interest rates, and budgeting. Wed, 18 Nov 2009 03:45:46 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: RateRunner http://www.bankaholic.com/finance/what-is-a-home-mortgage-short-sale/comment-page-1/#comment-22192 RateRunner Tue, 05 May 2009 20:14:55 +0000 http://www.bankaholic.com/finance/how-do-mortgage-short-sales-work/#comment-22192 Yes. If a payment is due the bank will expect you to make it. Yes. If a payment is due the bank will expect you to make it.

]]> By: Alicia http://www.bankaholic.com/finance/what-is-a-home-mortgage-short-sale/comment-page-1/#comment-22148 Alicia Sun, 03 May 2009 21:37:52 +0000 http://www.bankaholic.com/finance/how-do-mortgage-short-sales-work/#comment-22148 Will I(seller) still have to make payments while I'm waiting on the bank to approve an offer for my home? Will I(seller) still have to make payments while I’m waiting on the bank to approve an offer for my home?

]]> By: Christian http://www.bankaholic.com/finance/what-is-a-home-mortgage-short-sale/comment-page-1/#comment-4485 Christian Sun, 28 Sep 2008 06:38:57 +0000 http://www.bankaholic.com/finance/how-do-mortgage-short-sales-work/#comment-4485 Yes it is sad but it is the truth. The lender won't agree on a short sale unless you are in default, I recommend that you have your short sale handled by an experienced real estate agent. Once you find your agent he will ask you to bring him all the paperwork that he might be asked by the bank, that will include an authorization to release information so that he can negotiate with the bank. You might want to ask the bank to send you a list of what they need in the short sale package. that way you are prepared and you can test your Real Estate agent, because if you mention 'short sale package" and he does not know what you are talking about, then dump him. Work with a pro, remember time is of the essence. And yes it is not a good idea to sell your property in a short sale to your brother. A good website with lots of info on short sales is www.monkeysold.com Good luck Yes it is sad but it is the truth. The lender won’t agree on a short sale unless you are in default,

I recommend that you have your short sale handled by an experienced real estate agent. Once you find your agent he will ask you to bring him all the paperwork that he might be asked by the bank, that will include an authorization to release information so that he can negotiate with the bank.

You might want to ask the bank to send you a list of what they need in the short sale package. that way you are prepared and you can test your Real Estate agent, because if you mention ’short sale package” and he does not know what you are talking about, then dump him.

Work with a pro, remember time is of the essence.

And yes it is not a good idea to sell your property in a short sale to your brother.

A good website with lots of info on short sales is http://www.monkeysold.com

Good luck

]]> By: John http://www.bankaholic.com/finance/what-is-a-home-mortgage-short-sale/comment-page-1/#comment-2878 John Sat, 02 Aug 2008 23:48:07 +0000 http://www.bankaholic.com/finance/how-do-mortgage-short-sales-work/#comment-2878 Mortgage Complaints and Mortgage Reviews can be read at http://www.mortgage-lender-reviews.com Mortgage Complaints and Mortgage Reviews can be read at http://www.mortgage-lender-reviews.com

]]> By: JPM http://www.bankaholic.com/finance/what-is-a-home-mortgage-short-sale/comment-page-1/#comment-2795 JPM Thu, 24 Jul 2008 19:32:15 +0000 http://www.bankaholic.com/finance/how-do-mortgage-short-sales-work/#comment-2795 Wait!!!! I have a FHA Loan with CitiMortgage, I have ben calling them to do a short sale because I can't afford the house and it has been on the market since January. They finally gave me the FHA paperwork. It is stating that I need to be in default. You mean to tell me Citi is just yanking my chain and is not really going to grant me the right to short sale???? My HUD counselor has no idea what to say. HELP!!!! Wait!!!! I have a FHA Loan with CitiMortgage, I have ben calling them to do a short sale because I can’t afford the house and it has been on the market since January. They finally gave me the FHA paperwork. It is stating that I need to be in default. You mean to tell me Citi is just yanking my chain and is not really going to grant me the right to short sale???? My HUD counselor has no idea what to say. HELP!!!!

]]> By: amwgrad2011@yahoo.com http://www.bankaholic.com/finance/what-is-a-home-mortgage-short-sale/comment-page-1/#comment-2446 amwgrad2011@yahoo.com Wed, 25 Jun 2008 15:10:49 +0000 http://www.bankaholic.com/finance/how-do-mortgage-short-sales-work/#comment-2446 I am in process of purchasing a short sale home, is there anything I should know or watch out for? Thanks I am in process of purchasing a short sale home, is there anything I should know or watch out for? Thanks

]]> By: Johanna http://www.bankaholic.com/finance/what-is-a-home-mortgage-short-sale/comment-page-1/#comment-2079 Johanna Wed, 04 Jun 2008 01:35:31 +0000 http://www.bankaholic.com/finance/how-do-mortgage-short-sales-work/#comment-2079 Can someone please help me with this. Can I purchase a home in California that is a short sale using an FHA loan? In other words can an FHA loan get me a short sale property? Thank you for your help! Can someone please help me with this.

Can I purchase a home in California that is a short sale using an FHA loan? In other words can an FHA loan get me a short sale property?
Thank you for your help!

]]> By: John http://www.bankaholic.com/finance/what-is-a-home-mortgage-short-sale/comment-page-1/#comment-972 John Tue, 04 Mar 2008 13:51:15 +0000 http://www.bankaholic.com/finance/how-do-mortgage-short-sales-work/#comment-972 Here is a great article on second mortgages that I would like to pass on http://www.shortsaledeals.com/secondmortgages.htm Here is a great article on second mortgages that I would like to pass on
http://www.shortsaledeals.com/secondmortgages.htm

]]> By: asdasd http://www.bankaholic.com/finance/what-is-a-home-mortgage-short-sale/comment-page-1/#comment-852 asdasd Sat, 23 Feb 2008 21:22:25 +0000 http://www.bankaholic.com/finance/how-do-mortgage-short-sales-work/#comment-852 lkjsdklfdsf lkjsdklfdsf

]]> By: anony http://www.bankaholic.com/finance/what-is-a-home-mortgage-short-sale/comment-page-1/#comment-521 anony Thu, 27 Dec 2007 00:06:57 +0000 http://www.bankaholic.com/finance/how-do-mortgage-short-sales-work/#comment-521 Is it legal to short-sell your home to a family member? Is it legal to short-sell your home to a family member?

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