http://mikeknowsshortsales.com/do-you-ever-wonder-why-a-short-sale-is-not-so-short/ Just another WordPress weblog Wed, 01 Dec 2010 17:18:39 +0000 hourly 1 http://wordpress.org/?v=3.0.2 http://mikeknowsshortsales.com/do-you-ever-wonder-why-a-short-sale-is-not-so-short/comment-page-1/#comment-32 admin Sun, 31 Jan 2010 19:38:30 +0000 http://mikeknowsshortsales.com/?p=246#comment-32 Ferozan, Sorry for the delay. I response to your question, it deserves an answer of "it depends." The premise in which this investor is offering could be a benefit, but how and what they are equipped to do is not do is for you to find out. Regarding the negotiations to have a deficiency waved or negotiated will be at the discretion of the negotiations and the offer. That is why I asked depending on what this investor is built to do within their system or not would make the difference. Also, the lender reserves the right to have a deficiency unless they give a "full satisfaction release" (which can usually happen). You should also check with you CPA on the matters of your financial situation, becuase if you can prove you are insolvent at the time of this short sale you might be be released of it as well. Ferozan,
Sorry for the delay. I response to your question, it deserves an answer of “it depends.” The premise in which this investor is offering could be a benefit, but how and what they are equipped to do is not do is for you to find out. Regarding the negotiations to have a deficiency waved or negotiated will be at the discretion of the negotiations and the offer. That is why I asked depending on what this investor is built to do within their system or not would make the difference. Also, the lender reserves the right to have a deficiency unless they give a “full satisfaction release” (which can usually happen). You should also check with you CPA on the matters of your financial situation, becuase if you can prove you are insolvent at the time of this short sale you might be be released of it as well.

]]> http://mikeknowsshortsales.com/do-you-ever-wonder-why-a-short-sale-is-not-so-short/comment-page-1/#comment-31 Sarah Mon, 18 Jan 2010 20:30:58 +0000 http://mikeknowsshortsales.com/?p=246#comment-31 I have a question regarding an investment company that wants to buy my short sale. They are offering to negotiate the short sale with the bank. My concern is whether I will have a deficiency statement held against me. Can the investment company negotiate this for me? If so, what is their incentive? I want to ame sure that I will not be held liable for the deficiency amount and sued. Please help. I have a question regarding an investment company that wants to buy my short sale. They are offering to negotiate the short sale with the bank. My concern is whether I will have a deficiency statement held against me. Can the investment company negotiate this for me? If so, what is their incentive? I want to ame sure that I will not be held liable for the deficiency amount and sued. Please help.

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