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My goal is to short sell the home but not looking likely. So I am contemplating sending the application without bank statements, tax returns, etc.

I am in California, its a first mortgage so there is really nothing they can do other than FC or SS.

Its non-recourse so they cannot try to collect the unsecured personal loans for people with bad credit deficiency. Maybe its worth it just to give them everything they want and see what happens? Stretching out the home until the my first interest only period expired seems to have made a huge difference. I waited until the interest only period ended so I was making some income on loans in brownsville tx the rental for a while.

The IO period ended this year so stopped paying everything and got several months behind before putting the home on the market. To my surprise it sold quickly and for enough to pay all closing costs and remaining 1st mortgage balance. Now I can watch my credit heal and I am done with that losing investment.

Thanks for all the advice I received on this site, I never could have done this without finding some of the great information and advice of the people on this forum.

I kind of thought they were independent, but I was trying to be clever! LOL I was going to indian reservation payday loans try and make the arguement that if the SOJL cannot enforce the collection of the debt through the court system than technically there is no legal obligation? I know its a stretch, but I so want to sock it to GT! Since 2007, the LoanSafe forums have helped millions of homeowners over the last 13 years either save their homes with a loan modification, obtain a short sale, forbearance, or walk away legally from their underwater mortgages. Not sure if I am asking this question in the right forum but seems close enough. I submitted an offer on a property that is being offered as a short sale. The seller accepted and I have copies of the contract with signatures. The seller I am referring to is the current resident and who is liable to the lender for the mortgage. Now I was told up front that this is a short sale so the bank will need to weigh in and approve the sale but I assumed having the seller accept my offer then it would move to the bank and as long as I could work out the details with the bank then I would get the house.

Something seems fishy to me here since I am not sure how loan with bad credit history they could do that since they essentially signed and accepted my offer already.

I could see if the bank rejected my offer but now to submit two offers and let the florida loans bank decide?


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Especially if this is allowed or does it cross into a grey area? I guess what I really want to know is if I have the legal grounds to push back and tell the agent no you accepted my offer and you are more than welcome to keep the other offer as a back up but we already have a deal assuming the bank approves. Not sure if I am asking this question in the right forum but seems close enough. I submitted an offer on a property that is being offered as a short sale. The seller accepted and I have copies of the contract with signatures. The seller I am referring to is the current resident and who is liable to the lender for the mortgage. Now next day loan I was told up front that this is a short sale so the bank will need to weigh in and approve the sale but I assumed having the seller accept my offer then it would move to the bank and as long as I could work out the details with the bank then I would get the house.

Something seems fishy to me here since I am not sure how they could do that since next day loan they essentially signed and accepted my offer already. I could see if the bank rejected my offer but now to submit two offers and let the bank decide? Especially if this is allowed or does it cross into a grey area? I guess what I really want to know is if I have the legal grounds to push back and tell the agent no you accepted my offer and you are more than welcome to keep the other offer as a back up but we already have a deal assuming the bank approves. If there is an addendum to the contract making the approval of the lender a contingency of the contract, which there should be, then submitting multiple offers to the lender would be acceptable in many states. The lender will then select the offer that is most favorable to it and the additional offers, if the buyer accepts, should be placed in a backup position. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer , I next day loan do not know who the lender is but I plan to ask. There was a short sale addendum and next day loan I did read through point 7 Buyer Considerations with keen interest. I do see where it says that sellers have the right to continue submitting offers to the lender but I guess I just assumed since our offer was accepted and submitted to the lender for consideration, if it met their criteria the lender would approve it rather loan payday than waiting around to see what else would be submitted.


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We really liked the house so I think we were disappointed to hear there is a chance we may not get it after all. I guess next day loan we just have to wait a week or two and see what comes back. There was a short sale addendum and I did read through point 7 Buyer Considerations with keen interest.

I do see where it says that sellers have the right to continue submitting offers to the lender but I guess I just urgent cash assumed since our offer was accepted and submitted to the lender for consideration, if it met their criteria the lender would approve it rather than waiting around to see what else would be submitted. We really liked the house so I think we were disappointed to hear there is a chance we may not get it after all. I guess we just have to wait a week or two and see what comes back. Unfortunately this is the process when dealing with a lender on a short sale, it is basically out of the sellers hands. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet.

You should contact your attorney quick cash payday loan to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer 1. If property taxes are late or unpaid (and there is no escrow amount included in the monthly payment to the lender), will that late or unpaid amount show up in a credit report? I am assuming the bank would pay the property taxes and then demand payment from the borrower, so I guess in time it might show up as late payment or past due? So while I am trying to find more answers about property taxes, I have been reading up on the credit impact partially for me and partially to keep my wife informed about what we can expect as we go through this process. I am not so concerned about the FC since I realize that will impact me for a couple of years before things really improve. I am considering more about the 2nd which will become a SOJL after the FC. Everything I have read says the derogs will be around for 7 cash advance calculator years or so, but more importantly Green Tree will likely show a charge off for the 2nd. Again from what I have seen the CO is worse than derogs for late payment. If property taxes are late or unpaid (and there is no escrow amount included in the monthly payment to the lender), will that late or unpaid amount show up in a credit report?


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I am assuming the bank would pay the property taxes and then demand payment from the borrower, so I guess in time it might show up as late payment or past due? A lender would not let the property taxes go unpaid if there is not an escrow for them in order to avoid having a tax lien levied on the property. If you do not next day loan have an impound account, and you fall behind in paying your property taxes, the mortgage lender stands to lose thousands of dollars. In the event of a foreclosure sale, property taxes jump to the front of the line and take priority over all other liens on the property. Even if your mortgage is delinquent, often banks will step in to pay property taxes to remain in the senior lien holder position. The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any guaranteed cash advance individual attorney. Please Read our Privacy Policy and Legal Disclaimer So while I am trying to find more answers about property taxes, I have been reading up on the credit impact partially for me and partially to keep my wife informed about what we can expect as we go through this process. I am not so next day loan concerned about the FC since I realize that will impact me for a couple of years before things really improve. I am considering more about the 2nd which will become a SOJL after the FC.

Everything I have read says the derogs will be around for 7 years or so, but more importantly Green Tree will likely show a charge off for the 2nd. Again from what I have seen the CO is worse than derogs for late payment. Pursuant to the provisions of the FCRA, a easy payday loans lender can report a derog for as long as 7. Pursuant to the provisions of the FCRA, a lender can report a derog for as long as 7.