The Short Sale That Got Away

Now that you know how a short sale works, let’s take the time to clear up a few misconceptions people have about short sales. Myth: I won’t be able to buy another home for several years after a short sale. Truth: In certain circumstances, you can get an FHA loan within three years of the short sale date.

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New Short Sale Rules: What You Need to Know | HGTV – Of course, reading about all of these rules might easily persuade a homebuyer or owner to stay away from the short sale. But keep in mind that the real estate specialists and bankers are the ones who contend with the paperwork and phone calls, and that’s why a Realtor is there — to help walk you through the process.

Need a Short Sale? Find a Short Sale Expert | realtor.com – Find a Short Sale Expert. In addition, though, your lender must accept or decline the buyers’ offer. If you have private mortgage insurance (PMI) or a second loan, such as a home equity loan, on your property, the PMI company and a second lender may also have to approve the short sale.

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I am looking to purchase a short sale in Brooklyn. Possible. – These short sales usually close in a shorter amount of time, at least in my experience. I have a short sale approved property- 1 family detached home in East Flatbush – $325K Open House – Saturday and Sunday – 3/20 & 3/21 at 1372 Brooklyn Avenue, Brooklyn, NY 11203- between Foster and Newkirk Time: 1:30 to 4:00 p.m

A short sale is a real estate transaction where the owner’s lender agrees to accept a purchase offer from a new buyer, short of what is owed by the original owner. This could be great for you, the buyer, but it could take a long time to move into your home.

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