Realtors: Need to sell house while allowing current owner to remain and rent short-term. Is this possible?
My mother (the owner of the house) is terminally ill and at home under hospice care. She also requires caregivers 24/7, which her equity line of credit has paid for. Before this all began the house was paid in full. Now we’ve used $70,000 of the equity, but my mother is not eligible for a higher line of credit because of her fixed income. The house is worth more – we estimate $122K to $130K range, and we really need to be able to convert the remaining value of the house to cash to pay for her care. Is it possible to sell the house with a contract agreement that would allow us to rent month-to-month as long as my mother remains alive or is able to be cared for at home?
While no one can guarantee how long this might be, one look at my mother makes it obvious we are talking about a short-term arrangement. The heirs (her children) have power of attorney so presumably she would not have to be involved in the sale. Does this sound feasible?
my house is sold (short sale) I bought it with my VA. Question Is can I apply for another VA eligibility?
How does it work with VA? Thank you
How can people get away with doing a short sale on a vacant house?
I’ve seen houses on the market as short sales, but the owner/occupants have already moved out, and the house is vacant. Correct me if I’m wrong, but I thought short sales were only available to people that need to sell the home that they currently live in, and they had to prove a financial hardship that precludes them from making their mortgage payments on a house that has dropped in value below what is owed.
Am I liable for the taxes on my deceased parents house if I short sale?
I am on the title of my deceased mothers house, but the mortgage is still under the estate. Unfortunately the house is not selling. If to house is sold as a short sale would I be liable for the taxes? Would my credit be effected?
Short sale banker sells the house to his acquaintance for cheap price & later split the profit?
If I was a banker, I would reject random offers and accept only offers from my relatives, friends or acquaintances even though it might be much lower than other random offers and then split the profit.
Or to avoid being found out, I could do this once a while with different acquaintances.
Does this sort of thing happen in real life?
I live in New Mexico and my house is in foreclosure. Is a short sale a good option?
My house is currently in foreclosure. Ive talked to the lenders Countrywide and they suggested I do a short sale. They said to try to sell it at a price comparable to what other houses in the neighborhood sell for. They said if it doesnt sell for that then keep lowering the price. If that happens am I going to have to pay the remainder on it? Would it just be better to let it stay on foreclosure?
What is a short sale and how long you have to wait to buy another house again?
I heard a short sale in when you can pay or can sell your house for the amount you bought it for… For example I bought my house for $235k and now it cost between $170k to $190k, so it is upside downs for around $60k. I heard that I can hire a realtor he will sell it for a less amount and the rest the bank will “eat it”. But I have to wait certain years to buy another house again. How many years do I have to wait to buy again?
What are the difference to sell houses with realtors and company’s “Cash for house” ?
I need to know what is the difference to try to sell my own house with a realtor agent and by my self using the companys (cash for house) the price of the house will be low?, the time to try the sell is long or short?, the amount to pay for the transaccion will be the same? or whatever difference between boths way to try sell my home.
How long do I have to wait to buy another house after a short sale on previous house?
previous house was on floreclosure but sold on short sale, before final status.
Buyers exit market before House debt plan vote (Reuters)
NEW YORK (Reuters) – Stocks faded in the afternoon on Thursday to end mostly lower, with investors skeptical a key vote by Congress would lead to a deal to avoid a U.S. default.
The S&P 500 fell for a fourth straight day as buyers kept to the sidelines while lawmakers tried to hash out an agreement on the deficit.
A vote on a Republican-led bill to raise the debt limit was expected in the U.S. House of Representatives after the close of trading on Thursday. The Democrat-controlled Senate is crafting a competing bill, and Democratic leaders have said the House bill, if passed, will be defeated in the Senate.
“During the course of the day, it became clear that even if (Republican House Speaker John) Boehner does get the vote, when it’s turned over to the Senate, the Senate is going to reject it. That seems to be the reason for the selling into strength,” said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.
Analysts said dissension among the ranks of lawmakers has also made investors less certain that a deal can happen.
The wrangling over the U.S. deficit has boosted volatility as stocks have fallen. The S&P 500 is down 3.3 percent on the week, while the market’s fear gauge, the CBOE Volatility Index (.VIX), rose to 23.74, the highest since mid-June.
“The lack of leadership has optimism flying at a very low altitude … It’s basically leaving investors very skittish,” said Steve Goldman, market strategist with Weeden & Co in Greenwich, Connecticut.
Stocks got an early lift from a dip in jobless claims and strong pending U.S. home sales data, a day after the S&P 500 posted its biggest fall in eight weeks.
Among gainers, Green Mountain Coffee Roasters (GMCR.O) jumped 16.4 percent to $102.57 after the company said late Wednesday its third-quarter sales rose 18 percent. Green Mountain was the top percentage gainer on the Nasdaq, which ended slightly higher.
The Dow Jones industrial average (.DJI) ended down 62.44 points, or 0.51 percent, at 12,240.11. The Standard & Poor’s 500 Index (.SPX) was down 4.22 points, or 0.32 percent, at 1,300.67. The Nasdaq Composite Index (.IXIC) finished up 1.46 points, or 0.05 percent, at 2,766.25.
Exxon Mobil Corp (XOM.N), the world’s largest publicly traded oil company, however, reported results that fell short of expectations and its stock slid 2.2 percent to $81.46.
After the close, shares of Starbucks (SBUX.O) rose 2.3 percent to $40.90 after it posted a profit that topped analysts’ expectations.
During the session, shares of Internet delivery company Akamai Technologies (AKAM.O) dropped 19.1 percent to $23.84, a day after it lowered its revenue growth target.
Buoying the market early in the day, pending sales of existing U.S. homes unexpectedly rose 2.4 percent in June from May and were up sharply from a year ago.
New weekly claims for unemployment benefits fell below 400,000 for the first time since early April.
Some 7.93 billion shares changed hands on the New York Stock Exchange, NYSE Amex and Nasdaq, above the daily average of 7.47 billion.
Declines outweighed advances on the NYSE by about 3 to 2, while on Nasdaq losers were about even with winners.
“It’s institutional selling. It may be related to mutual fund redemptions,” said Jack Ablin, chief investment officer at Harris Private Bank in Chicago.
(Additional reporting by Ashley Lau; Editing by Kenneth Barry and Dan Grebler)
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