Buying a home through a short sale can be a long, complicated process. However, you might get a great deal on the property, making it worth the effort. Let’s look at the pros and cons of buying a short sale, and how to buy the home.

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Survey Finds Short Sales Outnumber REO in January Purchases Buying a short-sale house: A guide to the process. Buying a home through a short sale is different from buying a property at a foreclosure auction, or one that is. AG settlement starts the clock on short sales; Head of Citigroup.

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Mortgage Loan Applicants who had a deed in lieu of foreclosure and/or short sale, the waiting period is as follows: 4 year waiting period after short sale. Waiting period start clock starts from the date of short sale reflected on the HUD Settlement Statement.

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How to Buy a Short Sale There were 88,303 short sales in the fourth quarter, up 15% from one year prior, according to RealtyTrac. The short sales completed in the fourth quarter took an average 308 days since the.

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Short sales (Fannie describes as pre-foreclosure sale), deed in lieu of foreclosure, or mortgage charge-off are treated the same. Each requires a 4 year waiting period, unless the reason was an extenuating circumstance.

My name is Mike Roppo I am a Realtor in the Greater Temecula Area. My company has worked in the Temecula and surrounding areas for nearly a decade. We are fully equipped to handle all your Real Estate needs and have expert short sale negotiators. Please feel free to give us a call at (951) 315.9148 or visit our website at mikeropporealty.com.

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How to Apply for a Short Sale. Short selling a house is selling a house for less than the value of the mortgage. In some circumstances, a lender will allow you to pursue a short sale, but it isn’t typical. The lender has to be convinced.