Quick Property sale » Short Sale

Has anyone had a short sale refused by the mortgage lender?

admin — Fri, 26 Feb 2010 17:06:46 +0000

We have our investment property for sale because we cannot make the payments anymore. The renters are 5 months behind with rent & are now squatters. We are trying to evict them but it’s costing even more money. We’ve had an offer which was submitted in December. The lender has replied this week stating they will consider the offer but we may have to give them the difference in what is paid to what is owed. Can they do that? We’ll be bankrupt.

Passive Income

Post from: Quick Property sale

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Can the buyer of a short sale home, turn around and rent it back to the people that are short selling?

admin — Mon, 15 Feb 2010 00:54:37 +0000

We are trying to short sale our house and were approached by some people from up north that wanted to buy some property here in Florida and rent it out or a copule of years. They offered to buy our short sale house if we would sign a 2 year lease and rent from them. At the end of the 2 years they would like to either move into the house, or sell it, possibly back to us at the appraised amount. Can this be done? I have only heard of this as an issue of having family buying a short sale so their family members can stay in their own house by renting it and then maybe buy it back when it could be afforded.

Rent Back

Post from: Quick Property sale

Can I collect rent during a short sale of my property in California? In an effort to avoid foreclosure we decided to short sell our home. The investor who bought the bank loan, placed it in a land trust. He then was...
I signed a year lease beginning in March ‘09 and landlord is selling property via short sale. What should I do? I found out from the first broker here in Florida handling the property that owner hasn’t paid mortgage since Oct. 08, among many other shady things. The manager (friend...
Do I have to pay rent if the property I’m leasing is listed as a short sale & is in the foreclosure process? I live in Florida. I’ve been paying rent for over two years and I have an unstructured lease agreement. The lease basically states that I have been offered the...

Foreclosure on a rental property with tenants?

admin — Sun, 24 Jan 2010 14:53:31 +0000

I have a rental property and the rent is not enough to cover the mortgage. Can the renters stay while its on a short sale?

Passive Income

Post from: Quick Property sale

Tenant Property Rental Advice. Guide for Tenants Looking for a Flat to Let Moving into your new property to rent can be very exciting. Listed here are a series of pointers and advice for new tenants who either have not rented before...
Do I have to pay rent if the property I’m leasing is listed as a short sale & is in the foreclosure process? I live in Florida. I’ve been paying rent for over two years and I have an unstructured lease agreement. The lease basically states that I have been offered the...
Can expected rental receipts be considered income when applying for rental property mortgage? If someone wants to buy a rental property, can they improve their mortgage application by including part or all of the expected monthly rent to be received once the...

What to do if bank send person to change lock on rent property?

admin — Fri, 15 Jan 2010 17:36:58 +0000

my friend lives in a rent home. the owner stop pay the mortgage because they no longer want the home. My friend is interested to buy the home since she already lives there. The owner tells my friend that he is going to put the house on short sale so she could buy it. The short sale process has not yet started . my friend still lives in the house waiting on the short sale agreement with the bank.

well , yesterday some people came to the house saying the bank told them to put a lock on the house doors. but because my friend was there the guy say they cannot change the lock since someone is living n the house. so they took my friends name and tell her the will forward the Information ( that someone is in the house) to the bank.

i think the house is now in pre foreclosure

my question is what will the bank do next? will they kick my friend out the house immediately? should my friend stay in the house til the short sale agreement or the bank says something?

Sell and Rent Back

Post from: Quick Property sale

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