Is a Short Sale The Answer?
December 4, 2011 by admin
Filed under News, real estate info
Originally posted 2009-01-29 18:07:23. Republished by Blog Post Promoter
There is a Formula to Whether Your Short Sale will be Approved
I have fifteen short sales that I am working on of those fifteen all of the lenders are stating that they need to net a certain amount. I was beginning to think this was an isolated case until I came across the article at http://latimesblog.latimes.com.Â
I discovered from this article that if the seller has a FHA loan, the lender “requires a net of 82% of current market value. I was relieve to find out it is a formula that the lenders use.
The article went on to state that VA loans are required to net 88% of the current value. Still yet, the conventional loans are required to net between 78% to 85% of the current value.Â
As a homeowner who needs to sell it may be helpful to understand this formula. Remember, a short sale can save your from a foreclosure as long as the lender can yield enough money from the sale.
I just want to say I am just new to blogging and site-building and honestly enjoyed you’re blog site. More than likely I’m going to bookmark your website . You actually have great articles and reviews. Appreciate it for revealing your web-site.
I simply want to mention I am new to blogging and site-building and really loved your website. More than likely I’m likely to bookmark your blog . You actually have good articles and reviews. Appreciate it for sharing with us your website page.
Hello, i think that i saw you visited my website so i came to “return the favor”.I am trying to find things to improve my website!I suppose its ok to use a few of your ideas!!