What is the benefit to seller in SS??
After reading the FAQ'z, it appears the original owner will still be responsible for any difference in what the bank receives and what it is owed, and any amount received below the loan balance is considered income on a 1099! So, what is the incentive for the homeowner to ss and work with the investor??
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The benefit to the seller is no 'foreclosure' on their credit file.
Take it from someone who scores credit reports for mortgage approvals all day every day, the worst thing that can happen to your file, as far as mortgages are concerned, is a foreclosure. Bankruptcy is nothing compaired to a foreclosure.
hope this helps,
clear2close
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Hello clear2close!!
There is a couple of questions that I wanna ask you.
May I p.m. to you?
Verne
absolutely! anytime....
clear2close
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