Comments on: Short Sales: Is It Strategic Default or Harsh Reality?

By: Best Ad Tweets

Best Ad Tweets — Thu, 18 Feb 2010 20:53:29 +0000

RT @siliconhomes: Short Sales: Is It Strategic Default or Harsh Reality? http://bit.ly/9AyR8T #realestate #shortsale #siliconvalley

By: AgentGenius

AgentGenius — Wed, 17 Feb 2010 00:25:07 +0000

#agnow Thank you for your webinar and this post. Here is the situation: Owner died. She had a reverse Mortgage. ... http://bit.ly/bQMjSY

By: Melvin Khachigian

Melvin Khachigian — Tue, 16 Feb 2010 17:51:43 +0000

Thank you for your webinar and this post.
Here is the situation: Owner died. She had a reverse Mortgage. Todays BOP is about 210000. The Reverse mortgage was for @$400,000. The son is going to probate court today to get permission to list the property. Can we do a shor sale on this?
Mel

By: AgentGenius

AgentGenius — Thu, 11 Feb 2010 05:53:02 +0000

#agnow Short sales I have done also required a financial statement for the seller. Mine always had no savings, $50,... http://bit.ly/bQMjSY

By: AgentGenius

AgentGenius — Thu, 11 Feb 2010 04:52:13 +0000

#agnow This is a really tough question. I deal primarily with buyers so I haven't found myself facing the client wh... http://bit.ly/bQMjSY

By: TeamJernigan

TeamJernigan — Thu, 11 Feb 2010 00:10:52 +0000

Short sales I have done also required a financial statement for the seller. Mine always had no savings, $50,000+ in credit card debt and insignificant income. By the time the owner decided to consider selling, they were in such bad shape that the short sale did not solve anything. It just got them out of the house. I think all the debt resolution advertising on the radio is convincing people that it is OK to bail on painful debt. That is not the way I was raised. I think I would try to find my way out without defaulting. Of course no one wants to pay 50% more for something than it is worth. This goes back to the point where they bought the house. Did they really think that 3br 1800 sq. ft. house was worth $250.00 a sq. ft.?

By: ColoradoHomeFinder

ColoradoHomeFinder — Wed, 10 Feb 2010 23:52:12 +0000

This is a really tough question. I deal primarily with buyers so I haven’t found myself facing the client who is considering a “strategic default”. Personally I don’t think I could intentionally default on a loan just because the value of the collateral had dropped. When the bank loaned me money to buy my home I signed a note promising to repay my debt, and the note wasn’t conditional on home prices continuing to rise. I’m not an attorney but I would almost think that intentional or “strategic” default could be considered fraud if the defaulter represented they had a hardship when in fact they did not.

By: David Bartels

David Bartels — Wed, 10 Feb 2010 17:05:01 +0000

Short Sales: Is It Strategic Default or Harsh Reality? http://ow.ly/15O17

By: Seb Frey

Seb Frey — Tue, 09 Feb 2010 18:35:05 +0000

Short Sales: Is It Strategic Default or Harsh Reality? http://bit.ly/9AyR8T #realestate #shortsale #siliconvalley

By: Robert Prieto

Robert Prieto — Tue, 09 Feb 2010 03:52:32 +0000

Short Sales: Is It Strategic Default or Harsh Reality? http://bit.ly/aCJzaS