Is there anything I can do to prevent a foreclosure when lender is not willing to sell to inverster?
I am selling my condo in short sale, but lender is not willing to sell it to investor. There is no interest from people to buy it for a primary residence. So lender is forcing me to foreclose.
Is there anything I can do to prevent a foreclosure?
If a house is in pre foreclosure do you have to do a short sale?
House is in pre forclosure and I dont want to do a short sale. Can i sell it as a regular sale, pay the bank and keep some profit for myself?
How long a lender agreeing to short sale can keep me out of foreclosure?
I am selling my condo in short sale, but lender is not willing to sell it to investor. There is no interest from people to buy it for a primary residence.
Can a lender agreeing to short sale keep you out of foreclosure?
My coworker is in short sale with his lender. I am familiar with the Mortgage Debt Relief Act of 2007, but I don’t know if he is in short sale trying to sell the property, if the bank can foreclosure in the process. He is about 2 months behind on the notes. He has about 20 more days before he’ll be 3 months. Does the fact that he is in short sale agreement with the lender keep him from foreclosing? I told him it is better if he can get the short sale to occur rather than foreclosing.
Can owner do short sale of home even after foreclosure with redemption period notice?
A friend of mine stopped paying for their home that is upside down. Now it’s in foreclosure and they received notice of auction date. Do they still have a chance to negotiate with the bank to sell property on short sale? Please advise.
Determining Tax Basis at Foreclosure or a Short Sale?
I have two investment property’s that I am attempting to sell via short sale. I am trying to determine what the basis will be at disposition. Is it the sale price? Or, assuming there are no acceptable bids, what the bank bids it in at, which most likely will be what is owed on the mortgage? I refinanced each property to complete my primary residence. Can that be forgiven under The Debt Relief Act and will I be allowed to reduce the basis as a business related debt? Thank you.
Short selling or foreclosure primary residence more than once?
With so many short sales and foreclosures I’m wondering “if someone has multiple properties and it short sale or foreclose it’s primary residence and move into another of his/hers properties thus becoming the primary residence, can he/she do the same process if it’s financial situation doesn’t improves or worsen?” Would a bank, for that new residence, go along? would the IRS allow it? Is it legal?
Thank you.
Can anyone tell me what penalties Foreclosure and Short sales have on credit!??
I want to know the real answer regarding penalties of Foreclosing and Short selling a home. Mortgage is paid up to date, only problem is its not selling on the market.
Should I try to short sell my house, walk away (turn it in to the bank) or allow a foreclosure of my house?
Like many Americans, I have been unemployed for almost 3 years. Along with some serious health issues and a divorce, the last 3 years have been a true hardship. I have managed to continue to pay both of my mortgage loans. I have contacted my mortgage company and applied for assistance. I was told each time that I do not qualify for any assistance because my debt ratio is too high, in other words I am broke. They don’t consider my situation a hardship. How can I be too poor to get help and what other issues besides, unemployment, illness and divorce is considered enough of a hardship? They informed me that I can either sell my house for less than I owe or turn it in to them. After 13 years of on time payments. They do not care if we are homeless. Do I have to stop making payments to show I need help and if so, how many missed payments before they kick me out? Even though I am managing to make the payments, my home is falling apart and I have no way to make the repairs, which makes me feel even more trapped and wanting to leave the whole mess. Is there any free/low cost programs to help with repairs? I want to walk away but, have nowhere to go; since I can’t even rent an apartment without a job, unless maybe I can get a co-signer (does anyone know if this would be acceptable?)
Hi I am wondering if it be best for me to sell my house at a short sale price or let it go to foreclosure?
I’ve been told that if it’s sold as a short sale I will have to pay taxes and if I let it go into foreclosure I dont have to pay taxes. Is that true?
