Buying a short sale condo. approval letter received but close date is 11 days away!!!!
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Thread created 04-29-2012 by vinz
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Thanks for the advice! in this case I had to agree to pay for them as the lender is asking the seller to pay for them but they cant. not that it matters as it foreclosed anyhow.
Buying a short sale condo. approval letter received but close date is 11 days away!!!!
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Thread created 04-29-2012 by vinz
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14 Replies
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for future reference, any taxes owed by the seller should come out of the banks net. You should not be paying for this. It's common for taxes to be owed, since the seller can't pay the mortgage,...
Buying a short sale condo. approval letter received but close date is 11 days away!!!!
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Thread created 04-29-2012 by vinz
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update on this shortsale property, 05/10/12 is the foreclosure sale date and the lender decides to not give us an extension and went ahead to foreclose this property. I am disappointed but frankly,...
Buying a short sale condo. approval letter received but close date is 11 days away!!!!
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Thread created 04-29-2012 by vinz
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update on my shortsale purchase journey:
my agent wanted to match what Quicken Loans for was giving me which is 3.75% for 15 year fixed 20% down.
I shopped around again using costco finance and...
Buying a short sale condo. approval letter received but close date is 11 days away!!!!
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Thread created 04-29-2012 by vinz
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14 Replies
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I have seen other ingdirect shortsale approvals with more than 1 month time before close date. not sure why they are doing this. maybe you are right about them trying to sabotage the deal, which is...
Buying a short sale condo. approval letter received but close date is 11 days away!!!!
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Thread created 04-29-2012 by vinz
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The mortgage holder typically will sabotage the short sale to discourage others from attempting one. I'd be very interested to see if this ever closes. 9 out of 10 short sales do not. Please keep us...
Buying a short sale condo. approval letter received but close date is 11 days away!!!!
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Thread created 04-29-2012 by vinz
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14 Replies
5,265 Views
Thanks for the advice!
I searched homepath, none for sale in the area I'm buying. title insurance is one of the things required by my lender so I'm covered there.
seller has been paying HOA and...
Buying a short sale condo. approval letter received but close date is 11 days away!!!!
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Thread created 04-29-2012 by vinz
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14 Replies
5,265 Views
There's no way you can close this property in 11 days and the banks know this. Perhaps they are only interested in cash offers.
In case you do get an extension, make sure you hire a reputable...
Buying a short sale condo. approval letter received but close date is 11 days away!!!!
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Thread created 04-29-2012 by vinz
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saw that but almost every lender has some kind of negative feedback as well. what do you do?
Buying a short sale condo. approval letter received but close date is 11 days away!!!!
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Thread created 04-29-2012 by vinz
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http://www.consumeraffairs.com/finance/quicken_loans_mortgage.html
Buying a short sale condo. approval letter received but close date is 11 days away!!!!
Expired
Thread created 04-29-2012 by vinz
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14 Replies
5,265 Views
seller is unable to pay for the tax lien and seller is moving out of the country. I know this because as it turns out seller is a friend of a friend. I went ahead and just factored the tax amount to...
Buying a short sale condo. approval letter received but close date is 11 days away!!!!
Expired
Thread created 04-29-2012 by vinz
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14 Replies
5,265 Views
seller is unable to pay for the tax lien and seller is moving out of the country. I know this because as it turns out seller is a friend of a friend. I went ahead and just factored the tax amount to...
Buying a short sale condo. approval letter received but close date is 11 days away!!!!
Expired
Thread created 04-29-2012 by vinz
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14 Replies
5,265 Views
It's all up to how efficiently the lender operates but you're no more special than 100s other applicants they're working on all at the same time. So if you really want this property, prepare to pay...
Buying a short sale condo. approval letter received but close date is 11 days away!!!!
Expired
Thread created 04-29-2012 by vinz
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14 Replies
5,265 Views
I waited and waited 4 full months and now the wait is over for my short sale purchase.
I finally got the short sale approval letter from the lender Ingdirect (first mortgage holder)and citibank...
Buying a short sale condo. approval letter received but close date is 11 days away!!!!
Expired
Thread created 04-29-2012 by vinz
0 Score
14 Replies
5,265 Views
I waited and waited 4 full months and now the wait is over for my short sale purchase.
I finally got the short sale approval letter from the lender Ingdirect (first mortgage holder)and citibank...
