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.

Sell short – Idioms by The Free Dictionary – sell short. 1. Contract for the sale of securities or commodities one expects to own at a later date and at a lower price, as in selling short runs the risk of a market rise, forcing one to pay more than one expected. 2. sell someone short. Underestimate the true value or worth of someone, as in Don’t sell her short; she’s a very able lawyer.

The Steps in the Real Estate Short Sale Process – A successful short sale helps the lender to avoid yet one more foreclosed home on their books and all the cost and time involved in maintaining that home until its potential sale. A short sale can also reduce the likelihood that the borrower or homeowner will trash the property on his way out the door.

A Complete Guide To Short Sale Homebuying | Bankrate.com – Once a short sale transaction closes, the debt is settled and the seller is off the hook for the difference. A short sale has less impact on the seller’s credit score than a foreclosure.

How Long Should I Wait for Short Sale Approval? – Many banks will discount the price a little bit from market value, but to get an acceptance, offers should. Check Out the short sale listing agent's Track Record.

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When Can I Get a Mortgage After Short Sale? | Nolo – Nevertheless, a short sale will likely prevent you from getting another mortgage right away. The amount of time you must wait before applying for a new mortgage loan depends on the type of lender and your financial circumstances.

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The Myth of "End of Month" Car Buying –  · The salesman might be extra motivated to get more sales in before the month ends but that doesn’t mean he has the power to make unbelievable deals. End of Month Sales. To further the myth that the dealerships are giving away the farm at the end.