Comments for Buying HUD Foreclosures http://www.hudmortgageloan.com Homeownership Opportunities Through Government Owned HUD Homes Tue, 06 Apr 2010 17:33:59 -0500 http://wordpress.org/?v=2.8.4 hourly 1 Comment on Short sales on the rise by T Hng http://www.hudmortgageloan.com/buying-hud-foreclosures/short-sales-on-the-rise/comment-page-1#comment-6 T Hng Tue, 06 Apr 2010 17:33:59 +0000 http://www.hudmortgageloan.com/faqs-of-buying-hud-homes/short-sales-on-the-rise#comment-6 example for short sale: The bank take back the condo or the house that the borrower no longer can affort. The property might still have a balance of $100,000 on the mortgage that still owe the bank. The bank sometime will ask a realtor to list the property for them and list the price below the balance still owe like $98,000 or below just to sale the property. If you offer too low(example $60,000), the bank might not willing to take a big lost like that. Sometime short sale might take up to 6 months for the bank to approve the offer or not. Hope this help.<br><b>References : </b><br>Worked with title company for 6 years and a Loan Officer in Texas. example for short sale: The bank take back the condo or the house that the borrower no longer can affort. The property might still have a balance of $100,000 on the mortgage that still owe the bank. The bank sometime will ask a realtor to list the property for them and list the price below the balance still owe like $98,000 or below just to sale the property. If you offer too low(example $60,000), the bank might not willing to take a big lost like that. Sometime short sale might take up to 6 months for the bank to approve the offer or not. Hope this help.
References :
Worked with title company for 6 years and a Loan Officer in Texas.

]]> Comment on Short sales on the rise by jonluigi http://www.hudmortgageloan.com/buying-hud-foreclosures/short-sales-on-the-rise/comment-page-1#comment-5 jonluigi Tue, 06 Apr 2010 17:31:59 +0000 http://www.hudmortgageloan.com/faqs-of-buying-hud-homes/short-sales-on-the-rise#comment-5 Good Day.... you can go to this site also for some more questions... maybe they can help you.. http://www.cedarcity-realestate.com/<br><b>References : </b><br> Good Day…. you can go to this site also for some more questions… maybe they can help you..

http://www.cedarcity-realestate.com/
References :

]]> Comment on Short sales on the rise by realtor.sailor http://www.hudmortgageloan.com/buying-hud-foreclosures/short-sales-on-the-rise/comment-page-1#comment-4 realtor.sailor Tue, 06 Apr 2010 17:29:59 +0000 http://www.hudmortgageloan.com/faqs-of-buying-hud-homes/short-sales-on-the-rise#comment-4 A short sale is when the property is sold for less than the mortgage balance, with the mortgagee's (lender) approval. realtor.sailor<br><b>References : </b><br>I'm a Realtor A short sale is when the property is sold for less than the mortgage balance, with the mortgagee’s (lender) approval.

realtor.sailor
References :
I’m a Realtor

]]> Comment on Short sales on the rise by nick http://www.hudmortgageloan.com/buying-hud-foreclosures/short-sales-on-the-rise/comment-page-1#comment-3 nick Tue, 06 Apr 2010 12:27:48 +0000 http://www.hudmortgageloan.com/faqs-of-buying-hud-homes/short-sales-on-the-rise#comment-3 <b>In real estate, what is a short sale?</b><br>I heard a realtor talking about condo properties for sale in a FL high rise and she said that some in the building were short sales so that they may not go through. What did she possibly mean by that? In real estate, what is a short sale?
I heard a realtor talking about condo properties for sale in a FL high rise and she said that some in the building were short sales so that they may not go through. What did she possibly mean by that?

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