Lodinews.com

default avatar
Welcome to the site! Login or Signup below.
|
||
Logout|My Dashboard

President’s Corner ‘Short sale’ can help underwater homes, but it’s not for everyone

Rules of Conduct

  • 1 Use your real name. You must register with your full first and last name before you can comment. (And don’t pretend you’re someone else.)
  • 2 Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually oriented language.
  • 3 Don’t threaten. Threats of harming another person will not be tolerated.
  • 4 Be truthful. Don't lie about anyone or anything. Don't post unsubstantiated allegations, rumors or gossip that could harm the reputation of a person, company or organization.
  • 5 Be nice. No racism, sexism or any sort of -ism that is degrading to another person.
  • 6 Stay on topic. Make sure your comments are about the story. Don’t insult each other.
  • 7 Tell us if the discussion is getting out of hand. Use the ‘Report’ link on each comment to let us know of abusive posts.
  • 8 Share what you know, and ask about what you don't.
  • 9 Don’t be a troll.
  • 10 Don’t reveal personal information about other commenters. You may reveal your own personal information, but we advise you not to do so.
  • 11 We reserve the right, at our discretion, to monitor, delete or choose not to post any comment. This may include removing or monitoring posts that we believe violate the spirit or letter of these rules, or that we otherwise determine at our discretion needs to be monitored, not posted, or deleted.

Welcome to the discussion.

1 comment:

  • Aaron Ayotte posted at 1:02 pm on Sun, Apr 3, 2011.

    Aaron Ayotte Posts: 1

    Good article, Kerry! The only objection I have is that a real estate lawyer is required. Although I understand that due to the confusing nature of short sales, homeowners may want to consult with an attorney, and we don't discourage that. However, we have found that most attorneys don't have a clue how to do a short sale. Their expertise lies mainly in the law of real estate, not in the inner-workings of a short sale, the specific details of timelines, what's "normal" and what's not, and the difference between how an FHA short sale, HAFA short sale, and a conventional short sale are completed (they are greatly different), etc.
    Our company has negotiated literally hundreds of short sales in Central Texas for Realtors (who didn't want to do the extra work, but still wanted to help their client) and homeowners in total financial distress - all totally "above-board" and without the added expense (and often, confusion) of attorneys.
    Hey, if you know an attorney that totally "gets" short sales, then great. But most don't and will still charge high fees just the same.

     
Contingent real estate offers are quite common in home sales

When a person who wants to purchase another house, using the proceeds from the sale of their existing house, they have to make an offer with the condition that their present home has to be sold first making the offer contingent.

Posted: October 24, 2014
Comments (0)
more »

Loan Calculator

Your News

News for the community, by the community.

Featured Events

Mailing List

Subscribe to a mailing list to have daily news sent directly to your inbox.

  • Breaking News

    Would you like to receive breaking news alerts? Sign up now!

  • News Updates

    Would you like to receive our daily news headlines? Sign up now!

  • Sports Updates

    Would you like to receive our daily sports headlines? Sign up now!

Manage Your Lists