Tag Archives for " short sale FAQ "
September 7, 2017
- in Short Sales by Minna Reid
Will my spouse be affected by my short sale?
One of the most frequent questions I hear involves a contemplated short sale where only one spouse is on the loan and the couple is worried about how the other spouses credit will be affected. Common concerns are: Will both spouses income be considered during the short sale? Will the other spouse will suffer credit damage as […]
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September 7, 2017
- in Home Buying , Short Sales by Minna Reid
How soon after a short sale can I buy again?
Most short sellers eventually want to buy homes again, and I am frequently asked how long this will take. While there are some exceptions allowing for a shorter waiting period – 3 years is generally the amount of time you will need to plan to be a renter after your short sale. Even if credit scores may bounce […]
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August 28, 2017
- in Foreclosure by Minna Reid
Stop Foreclosure: Help for Connecticut Homeowners
Stop Foreclosure: Help for Connecticut HomeownersHave you fallen behind on your mortgage payments?Are you scared of losing your home to foreclosure?Do you owe more than your home is worth?YOU MAY BE ABLE TO SELL YOUR HOME IN A SHORT SALE AND AVOID FORECLOSURE!If you would like to sell your Connecticut home, but owe more than […]
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August 28, 2017
- in Short Sales by Minna Reid
What to do when your short sale gets declined
Most Connecticut short sales go according to plan but there are a few common reasons your short sale may get denied. You do have options to get your short sale back on track. The most common reasons short sales get denied: The buyer’s offer is too low. Now this may not necessarily mean that the buyer is paying […]
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August 28, 2017
- in Short Sales by Minna Reid
Will everyone know about my CT short sale?
Many of my Connecticut short sale clients are concerned that their home will be advertised as a short sale and the whole world will know about their unfortunate predicament. Foreclosures are lawsuits and as such they are public information and broadcast online and in newspapers. Short sales simply require approval from the lender as the lender has to agree to take a loss. A […]
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August 28, 2017
- in Short Sales by Minna Reid
7 KEY QUESTIONS TO ASK THE REALTOR YOU ARE CONSIDERING FOR YOUR SHORT SALE
WHAT TO ASK WHEN INTERVIEWING A REALTOR TO HANDLE YOUR SHORT SALE: How long have you been doing short sales? Short sales are highly complex transactions and very different from traditional real estate sales. Financial consequences for short sellers can be significant. It’s critical to have your short sale handled by a highly experienced professional. Most […]
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August 28, 2017
- in Short Sales by Minna Reid
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- 1 comments
Can I get cash back from my short sale?
Seller relocation incentives in short sales have become more popular in the last few years. As a condition of any short sale approval, the lender will usually require the seller have no proceeds from the sale. However – there are a few instances where the seller can in fact be paid an incentive from a short […]
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August 28, 2017
- in Short Sales by Minna Reid
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- 6 comments
How long will my short sale take?
How long will the short sale process take? While all short sales are different, there are some general timelines I give folks when asked. Now mind you, I have had short sales approved in 10 days, and I have had short sales that took over a year to have approved, but most traditional short sales will usually fall into […]
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August 28, 2017
- in Short Sales by Minna Reid
Short sale on a jumbo loan? Here’s what you need to know!
Short sale on a jumbo loan? Here’s what you need to know! A jumbo mortgage is a home loan exceeding conforming loan limits, mainly used to buy high end or luxury property. Conforming loan limits in Connecticut are $417,000 in all counties except Fairfield county – where the conforming loan limit is $601,450. When the […]
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August 28, 2017
- in Short Sales by Minna Reid
What happens to my second mortgage in a short sale?
What happens to my second mortgage in a short sale? Many of our Connecticut short sellers have multiple lien holders – most commonly in the form of a second mortgage. In order to be able to sell the house, all the liens against the property must be addressed so that clear title can convey to the buyer. Most […]
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