Sentences with phrase «agree to a short sale allowing»
Where the current fair market value of your property is less than the amount you owe on your loan, the lender may agree to a short sale allowing your property to be sold for less than the amount of the loan balance.
http://www.thehardmoneypros.com/ Not exact matches
Similar to a short sale, a short refinance on an FHA loan allows homeowners to refinance up to 96.5 % of their home's current value provided your existing lender agrees to write off any mortgage debt in excess of your maximum FHA loan amount.
Short Sale: Your servicer may allow you sell the home yourself before the property is foreclosed on, and may agree to forgive any shortfall between the sale price and the mortgage balaSale: Your servicer may allow you sell the home yourself before the property is foreclosed on, and may agree to forgive any shortfall between the sale price and the mortgage balasale price and the mortgage balance.
That's why, when a home is advertised as a short sale, the buyer should ask whether the lender has agreed to allow the home to be sold for less than the outstanding mortgage amount.