Sentences with phrase «bank than the sales price»
With a long term mortgage you end up paying twice us much to the bank than the sales price of the house.
https://money.stackexchange.com/ Not exact matches
Rather than using a specific sales price, the bank will consider your annual income and your annual debts only.
Also, while a home inspection might pay for itself in a regular sale, banks are less likely than traditional sellers to lower the purchase price or make repairs.
After the excitement of selling your home wears off, it can be a bit depressing to see 5 percent or 6 percent of that sale price go into your realtor's bank account rather than your own, no matter how well the realtor did her job.
There has been a «dramatic shift» in banks» willingness sell a property for less than the mortgage balance to avoid foreclosing... short sales, typically change hands at a discount of about 20 percent to homes not in financial distress, compared with a 40 percent price cut for bank - owned homes, according to RealtyTrac Inc..
However a bank will be less likely to accept a short sale offer for the sale if the offer price is lower than its BPO.
Rather than using a specific sales price, the bank will consider your annual income and your annual debts only.
If the sales price is more than your loan balance, you'll receive a refund after the bank collects its fees and loan payoff amount.
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.
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.
«Disposing of distressed homes by pre-foreclosure sale can also benefit lenders and servicers because pre-foreclosure homes sell at a higher average price point than bank - owned homes,» Moore continues.
«Our first quarter foreclosure sales report showed that the average price of a pre-foreclosure home was more than $ 27,000 higher than the average price of a bank - owned home — which quickly adds up given that there have been an average of 1.6 million nationwide foreclosure starts per year for the past five years.