Short sales

Posted on: Mon, 07/27/2009 - 22:09

goldenruleproperties

Member

Posts: 4

Joined: 2009-07-27

Points: 23

Offline

Short sales

Are banks still mostly opened minded to accepting short sale offers as low as 40% of market value &/or mortgage balance thru the lost mitigation department? In my area, banks seem to only want to list their foreclosures at fair market value & Realtor's don't seem to be to open minded about working with invetor types offerning decent purchase prices. Also, does PMI stand in the way of banks selling on a short sale?

__________________

Never, Never, Never Give Up!
Win/Win Always!

RAJ

by goldenruleproperties
Login to post comments

Posted on: Mon, 07/27/2009 - 23:15 #1

Betty Stanley

Member

Posts: 2

Joined: 2009-07-27

Points: 13

Offline

subject to existing mortgage

What is subject to exixting mortgage, is it a good idea?

DISCLAIMER: Our DG site is here to provide real estate education, training and social networking without the promise/claims of earnings or return on investment. We don't offer tax, accounting, financial or legal advice. Before doing any real estate transaction, you should consult your own accounting, legal and tax advisors to evaluate the risks, consequences and suitability of that transaction. This site accepts and contains posts from our students, readers and the general public that we do not modify but also do not verify. There are no guarantees implied except where specifically stated.

Short sales

Member Login

Main Sections

Student Resources

More DG Resources