Yes I Am New As All Of You In This Investing And I Need Help With This
The agent says fax her a offer on a property. Please send me to a website or send me a sample of a offer sheet any of you use. THANKS
PS; I COULD NOT FIND ONE IN THE FORUMS.
The good for the seller, he/she gets out of a mortgage they can no longer support. It does not help their credit directly, but it helps it from getting trashed further by going into forclosure.
The benefit of the SS for the seller is to avoid foreclosure and mitigate defeciency judgement.
There are also overlooked benefits of doing a shortsale. When you sell your home via shortsale your credit will show late payments on the mortgage BUT will NOT show that the home was foreclosed. As of now current FHA lending guidelines allow home buyers to show a 12 month on time housing history (rental is OK) in order to qualify for a new FHA loan. Which means in some cases the sellers can qualify for a loan again in as little as 12 months. If you do not sell the home then the foreclosure will show on the credit report and it will be a minmum of 3 to 5 years (depending on lender) before you can even be considered for a mortgage again, some even as long as 7 years.
I think the asking price is also the BPO. Thank you for your impute.
I think the banks are thinking if Bears got bailed out, we will too.
I have seen bulk REO price move up since the credit window was opened (pledge AAA bonds for treasuries) and the Bears bailout/merger.