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    • negotiating a short sale FAQ

    If I start to negotiate a short sale on my house can my retirement (403b, IRA) be touched?

    Sep 24, 2006 by jmmac5 | Posted in Renting & Real Estate

    I know that banks look at your assets when negotiating short sales, but are retirement accounts included. Is there a way to hide that money or any money? I am drowning under my mortgage, but I don't want foreclosure and bankruptsy. I owe 556,000 combined

    No, it can't be touched. However, they can go after a deficiency judgement against you if they feel that you have the funds. Plus, I don't think they can find out about your 401k. It's not disclosed on any public records nor is it in your credit.

    satarnag | Sep 25, 2006

    If you touch your IRA . You Will lose about 40 -50% to
    IRS (KGB) thats the rules . Don't touch it. Serious suggest you have an inventory sale (ebay yard etc) - you won't have to move much. You won't have to store much when you downsize. Get not
    robert w | Sep 24, 2006

    We are in the process of negotiating a short sale...what does all this mean?

    Feb 09, 2010 by Kaily K | Posted in Renting & Real Estate

    The seller checked a box on our offer saying she would like Charges and Assessments due after closing to be assumed by buyer (utilities, homeowners,etc). Does anyone know washington state laws or could offer any advice.

    For the lowdown on short sales, see following source:
    obi2kenobi | Feb 09, 2010

    How do you to negotiate a short sale with your lender? Does anyone have any tips?

    Feb 11, 2008 by ZorbitEarth | Posted in Renting & Real Estate

    How do you to negotiate a short sale with your lender? Does anyone have any tips?

    I applied for a short sale in November, but did not have a buyer yet, so the lender would not even consider the short sale.

    1st and most important you need a BPO (or an appraisal). So you know what your house is worth and what to sell

    SCH | Feb 11, 2008
    Do I still have to keep home insurance on a vacant home if I'm negotiating a short sale or can I cancel it?

    Mar 18, 2008 by nancebar33 | Posted in Renting & Real Estate

    I'm negotiating a short sale with the bank. Do I still have to keep home insurance on my house (payment included in the mortgage) or can I cancel my insurance and get reimbursed for the remaining premium. Won't the bank have to carry the insurance if

    The bank will only forgive your debt on the Short Sale if it actually sells. So, not keeping the house up will turn off prospective buyers. Then, the house doesn't sell, the bank forecloses and your credit is tanked. So many people believe that if

    wizbangs | Mar 18, 2008

    negotiating a short sale news

    Dealing with second and third mortgages on one property

    18.05.12

    Q. I have a second and third mortgage on my house. Can the lenders of my second and third mortgage foreclose on my house even if I make all my payments to my first mortgage lender in timely manner? Is there any way that I can short-sell my house?

    Your letter reminds us of the go-go years of real estate, where property values were rising so fast that many homeowners took out several home equity lines of credit — and home equity lenders happily agreed to sit behind the primary, secondary and even tertiary lender.

    Sam once had a case where the owner of the property had 10 lenders. The house had dropped in value, and the owner wanted out. Sam was able to negotiate an end to the stalemate — after a long period of time — and get the house sold. (We don't recommend that any one property have 10 lenders, by the way.)


    Source: NorthJersey.com

    negotiating a short sale about


    Q&A: When to Stick with an Underwater Mortgage
    LoanSafe - Jul 14, 2011 Should we attempt a short sale? ANSWER: No. I get a lot of questions like this from people who find out they are underwater and want to get rid of a perfectly good home that they loved just a couple of years ago. These same people seem to have no

    Q&A: How to survive a short sale
    Kansas City Star - Jun 30, 2011 Q: How long did it take to do your own short sale? Q: Why does the process take so long? A: Nobody intended for this happen, so with so many defaults and short sales, they (banks) weren't set up for this. They're negotiating 100 to 350 files at once.

    New regulation governs short sales
    Arizona Republic - Jul 06, 2011 A real-estate agent can list and negotiate the short sale of a home, provided that there is compliance with the MARS requirements and the real-estate agent receives no additional compensation for negotiating a short sale. In other words, a real-estate

    An insider's view of surviving a short sale
    Chicago Tribune - Jul 08, 2011 Q: How long did it take to do your own short sale? Q: Why does the process take so long? A: Nobody intended for this happen, so with so many defaults and short sales, (banks) weren't set up for this. They're negotiating 100 to 350 files at once.

    The Ballen Group, Las Vegas Short Sale Specialists, Hires Tom Wirt as Short ...
    PR.com (press release) - Jul 13, 2011 Tom's main focus has been helping people with short selling their homes and negotiating with their lender. His extensive experience in the industry allows him to assist others in making their experience as flawless and easy as possible.