Sentences with phrase «bank approved the short sale»

The first bank approved the short sale real quick!

Bank approved short sale in good condition, property has been well maintained and features 3 bedrooms 1 bath with a full finished basement.

The bank approved the short sale — but refused to release us of the remaining debt obligation, not unless we wanted to toss in a boat load of cash, that we don't have.

Not exact matches

Myth # 2: Banks would rather foreclose on a property than approve a short sale.

At the end of the day, you need the lender's approval, and the bank can decide at the last minute not to approve a short sale, putting you back at square one.

Since there's a lot of back - and - forth and red tape with short sales, it can take as long as 90 days to purchase these homes — that's if the bank approves the sale.

A bank will not approve a short sale for just a loss in value.

Even a short sale advert might not state that a bank has approved a sale.

Banks might not necessarily approve loans on homes that are listed as short sales.

(The bank won't approve a short sale because I'm not in a financial hardship; I can afford the mortgage, it just seems foolish to pay that much to protect my credit.)

These are legitimate reasons a bank would allow a short sale to be approved.

With a lot of agents in our area not wanting to show «short sale» listings I use this offer to get from the bank what they will really accept and then can market the home with an approved value.

If the bank will not be reimbursed for the loss chances are the bank will not approve the short sale.

I wanted to mention that, because I think I read somewhere that banks will not consider short sales on rentals... as far as I know, mine has been approved and things are moving forward.

If the property had two mortgage with two different banks unrelated to another than don't you think they both need to approve the short sale.

Also, keep in mind that, if the bank «accepts» less, there is less tax benefit to them than to just foreclosure, hence another layer as to why short sales are tough to get approved.

I also have a short sale that just got approved by Bank of America but now the file is being sent to Freddie Mac, the investor, for their approval.

So far we know that the home owners approved our offer and the short sale packet has been submitted to the bank.

Although there is usually a written purchase contract negotiated and executed in a bank's sale of REO property and in the case of a short sale, the bank may not permit the inclusion of exchange cooperation or other assignment language in the purchase contract if the issue first arises after the contract has been approved by senior bank management.

Foreclosure, however it may occur, can be damaging to your credit and reputation.Instead, working with your bank or lender to approve a short sale will have much less impact on your future.

Almost all my listed deals since the investor market has gotten much more competitive have been short sale deals where the seller accepted (and bank ultimately) approved a price that was much less (15 - 30 % I'd say) than the list price.

When the bank does respond... it can approve the short sale, make a counteroffer, or deny the short sale.

I am waiting on an approved short sale to be blessed by the bank and you know how long these can take.

Never, ever put up earnest money on a short sale until the bank approves the sale.

Elizabeth Weintraub, a Sacramento, Calif. - based real estate practitioner who handles many short sales, said, «Bank of America approved [a short sale] in 24 days.

«Home values will not improve until: 1) banks approve more short sales 2) banks put REO's on the market 3) Congress stops trying to regulate everything.»

Banks are under no obligation to approve a short sale.

You've got the best chance of getting closing costs paid by the seller and approved by the short sale bank if your financial resources are limited.

Approved short sale listings come about when a potential buyer submits an offer for consideration but backs out after the bank approves it.

It's important to keep in mind that a short sale is one where the bank has approved a loss on a current loan.

That's because the short sale bank will need to approve the closing cost credit.

It is in the bank's best interest to approve the short sale if the bank will make more money through the short sale than to foreclose.

We also likely have Lenders / Banks not so readily approving Short Sales with the anticipation of home values increasing, so they too can lessen their losses on any Short Sales that they may approve.

To get the bank to approve the short sale and to lessen the deficiency if any, sellers generally want the highest price offer.

Florida Realtors Want an Online Search Site Containing Bank - Approved Short Sale Listings — A List of Homes That Lenders Have Agreed to Short Sale and The Price Which They Will Accept

An online listing of properties in Florida with pre-approved short - sale prices — a searchable website where homes with short - sale prices already approved by the banks could be surfed by agents and potential buyers.

Introduced two days ago, on February 26, 2013, this bill is a revamp of prior unsuccessful attempts at passing legislation to put time deadlines on banks to approve (or disapprove) a proposed short sale offer.

I had a question; I recently ran into a situation where a fellow wholesaler has a house under contract that the bank has approved for a short sale.

In order for a Florida bank to approve any short sale, the borrower who is wanting to short sale the home must be able to prove a hardship with the appropriate documentation, to the bank's satisfaction.

RealtyTrac reports that the number of short sales approved by banks rose in the second quarter of this year while the length -LSB-...]

Coming hat in hand with some suggested solutions, the Florida Realtors asked Congress to rule that if banks are silent on a proposed short - sale price, that it should be legally assumed to be approved after 45 days.

During August in the core Orlando market, year - over-year prices increased 26 percent for short sales, which are bank - approved sales for less money than the mortgage owed on the property.

RealtyTrac reports that the number of short sales approved by banks rose in the second quarter of this year while the length of time it took to sell those home actually fell.

If the short sale is approved, it's easier on you, your neighbors and the bank.

With a lot of agents in our area not wanting to show «short sale» listings I use this offer to get from the bank what they will really accept and then can market the home with an approved value.

Often times the bank hasn't even done their analysis on the property and there is a good chance the short sale lender will never approve the sale of the property at the listed price.

In addition, Mr. Boatright has made available a special video which details a little known bank secret to getting short sales approved.

It's not uncommon for lenders to go after money that the sellers have in the bank or in a retirement account before they approve a short sale request.

Some real estate professionals also point to lawmakers» indecision on the national debt ceiling the last few weeks and an increase in short sales - related cancellations due to buyer frustration at the lengthy process or banks not approving the short sales.

Banks have become more willing to approve of short sales these days, due to current market conditions.