Short Sales - From the Lender's View
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a small taste of australian hypocrasy, are you surprised? many americans arn't aware of the ignorance, arrogance and ingratitude out there. with the advent of the internet contact has been made. Europeans arn't much better by the way.
3 years ago 6
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I don't feel silly about not understanding short sale...Thank you
4 years ago 6
All Comments (42)
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@tiborzkarate if PMI was a factor it does not necessarily render a benefit in a short sale or default situation and never at the moment of default. PMI companies are insurance companies. Just like when you deal with your insurance company after an event you consider to be a "covered event" so must the lender negotiate with the PMI company. A default is not an automatic payment. Errors in paperwork, bad lending practices and other attributes can prevent PMI payout.
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Very good video.Very informative.
Violetta-Papa-your-friendly-We
idel-Realtor from NJ -
deatbeat sale pay your bills thats why there was a bail out deadbeats
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Sounds like our situation. We bought a house 3 years ago for 500 K in Ca. (East Bay) and are considering a short sale.
2 years ago 2
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We just finished our short sale. It took 6 months for the bank to finally agree to the short sale. We bought it for $500,000 3 years ago and it sold for $260,000; that's how bad the housing market is in California.
2 years ago 3
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I made an offer on a short sale. I am putting 40% down. Bottom line if the bank does not take my offer i walk away & say call me if you change your mind. The economy is going south! it is my money. take it or leave it. it is that simple!
2 years ago 2
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Great information! Thank you for helping educate people. Here's another resource to consider. FederalHomeLoanMods(dot)com
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This comment has received too many negative votes show
You poor bastards, who allowed these eventual mortgage problems to develop, your economy is obviously uncontrolled and backward, this does not happen in any other country around the world, I think it is a deliberate system where money is quickly removed from part of the population to benefit others, a free economy which is out of control. Many yanks after many generations still have not attained any assets, it's crazy and unfair.
webaroos 3 years ago
"this does not happen in any other country" O RLY? See the "Info" section for this video for just 3 samples from Australia, Britain and Spain. No, it doesn't happen in countries where people are not free to own their own property or where the people are property of the state - that is correct!
reibroker 3 years ago
This comment has received too many negative votes show
We don't have wholesale, uncontrolled havoc in the mortgage market, neither do our prices drop like a rock because the mortgagee is always responsible for the debt, you cannot just walk out and leave the keys, and you seem ignorant of Australia's situation.
webaroos 3 years ago
"and you seem ignorant of Australia's situation" enlighten me Oh Great One. By the way - when you make statements you hope will sway opinion or correct news reports cite someone with credentials or provide your own. The mortgagee is always responsible for the debt? The mortgagee is the lender you know - I'm going to trust you simply misstated the positioning. The title of the article in the UK Telegraph is "Australia faces worse crisis than America" (linked in the info section).
reibroker 3 years ago
This comment has received too many negative votes show
The UK Telegraph, is an English paper (12k miles away) and if you believe the envious drivel meted out by that publication I have a bridge you might be interested in. Look really you make money from the misfortune of others, why don't you have some decency and get a job.
webaroos 3 years ago
"Look really you make money from the misfortune of others, why don't you have some decency and get a job" Wow: judge, jury and executioner. Now we see we really need your all knowing wisdom here. Please, please tell us more about what fools and sluggards we ignorant people are. How exactly is it that I earn a living? What is it that I do? We are awed by your presence here and I feel so enlightened by your input. Please, do tell us how to act and the real truth of all things.
reibroker 3 years ago