Tice = HAI NO MORE

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Jul 20, 2008 | 02:21 PM

#81

KROHNSTUNTS

AuthorityStunts

Joined: Sep 2004

Posts: 3,638

From: St. Paul, mn

Re: Tice = HAI NO MORE

Tice i am buying my moms house in september, the offer is always open if you want to come back home to mn.... i need roomies too!!!

Jul 20, 2008 | 02:22 PM

#82

apfire26

Registered User

Joined: Apr 2005

Posts: 4,810

From: The center of Florida

Re: Tice = HAI NO MORE

Quote:

Originally Posted by djtomd

The problem is that houses aren't selling in Florida right now, or anywhere for that matter. It's probably better to just stick it out through the tough times and keep the property. Like Tice is doing.

Only thing is, if you can't afford it then you can't keep it. If I lost my job then I'd have no house, it wouldn't matter if I sold everything. There's no way I could afford it on a McDonalds salery.

Jul 20, 2008 | 02:47 PM

#83

IRISH MIKE

Throttle choppin'

Joined: Sep 2003

Posts: 4,156

From: O-Town

Re: Tice = HAI NO MORE

Quote:

Originally Posted by apfire26

Only thing is, if you can't afford it then you can't keep it. If I lost my job then I'd have no house, it wouldn't matter if I sold everything. There's no way I could afford it on a McDonalds salery.

No but atleast you would always have some tasty McDonalds fries to eat

Jul 20, 2008 | 03:58 PM

#84

old man roger

also known as OMR

Joined: Jul 2006

Posts: 79,288

From: OMR INDUSTRIES in west palm beach florida

old man roger User spends way too much time asking for rep

Re: Tice = HAI NO MORE

Quote:

Originally Posted by old man roger

tice if your looking to sell your house you can do whats called a short sale , it allows you to sell the house for less then what you owe on it and not owe a penny when the deal is done ...

now if you have alot of money in the house this may not be the way to go but if you got in with little or no money down and took out equity loans then technically you already realised your gain and it might be just the thing for you...

the house will need to be appraised and because of the way the market is now it will no doubt appraise at a price less then what you owe on it[unless you have a **** load of equity] and that will make it easier to sell

Quote:

Originally Posted by djtomd

when sold at fair market prices they are selling. it's just that so many people owe more then what the house is worth and they don't know or want to do short sales

Jul 20, 2008 | 04:54 PM

#85

Zuki750

I Have Too Much Free Time

Joined: Oct 2002

Posts: 16,024

From: Bangor, ME

Re: Tice = HAI NO MORE

How does a short sale work as far as the bank is concerned? They just forgive the difference?

Jul 20, 2008 | 06:57 PM

#86

old man roger

also known as OMR

Joined: Jul 2006

Posts: 79,288

From: OMR INDUSTRIES in west palm beach florida

Re: Tice = HAI NO MORE

Quote:

Originally Posted by Zuki750

How does a short sale work as far as the bank is concerned? They just forgive the difference?

pretty much ,simple explanation is they send an apraiser out to look at the house then they do a comparison of sales in the area

Jul 20, 2008 | 09:20 PM

#87

DSOG Thomas

Registered User

Joined: Sep 2002

Posts: 6,187

From: wherever the $$$ is

DSOG Thomas will become famous soon enough

Re: Tice = HAI NO MORE

short sales take forever to get approved.. if they do..

im buying a house now in Cali and blatantly refuse to even look at a short sale..

I mean if it works, great.. but banks are real finicky

Jul 20, 2008 | 10:04 PM

#88

Zuki750

I Have Too Much Free Time

Joined: Oct 2002

Posts: 16,024

From: Bangor, ME

Re: Tice = HAI NO MORE

Quote:

Originally Posted by old man roger

pretty much ,simple explanation is they send an apraiser out to look at the house then they do a comparison of sales in the area

So basically they settle for some money instead of having to forclose on it. Does it hurt the seller's credit?

Jul 20, 2008 | 11:49 PM

#89

apfire26

Registered User

Joined: Apr 2005

Posts: 4,810

From: The center of Florida

Re: Tice = HAI NO MORE

Good question. ^^

Jul 21, 2008 | 02:04 AM

#90

old man roger

also known as OMR

Joined: Jul 2006

Posts: 79,288

From: OMR INDUSTRIES in west palm beach florida

Re: Tice = HAI NO MORE

Quote:

Originally Posted by DSOG Thomas

short sales take forever to get approved.. if they do..

im buying a house now in Cali and blatantly refuse to even look at a short sale..

I mean if it works, great.. but banks are real finicky

i have closed a short sale myself in less then 30 days with out a broker , just a title company , me ,the seller and the bank , it was the only type of houses i would buy when i was doing it full time

Quote:

Originally Posted by Zuki750

So basically they settle for some money instead of having to forclose on it. Does it hurt the seller's credit?

depends on your status up untill the point you sell and if you quallify for certain plans or not , most people are already behind on there mortgage and on there way to forclosure so there credit is already screwed up to a point but if you are current with your payments and lets say you loose your job there are way of doing it so it doesn't hurt your credit but that depends on your lenders policy

Jul 21, 2008 | 02:22 AM

#91

Ryan S

I Chose to No Longer Post

Joined: Oct 2002

Posts: 10,865

From: milton, wi

Re: Tice = HAI NO MORE

good luck tice!!

Jul 22, 2008 | 05:08 PM

#92

T-Ice

Thread Starter

ESADmethods.com

Joined: Sep 2004

Posts: 3,950

From: ESAD Land

Re: Tice = HAI NO MORE

regardless a short sale or a forclosure is going to hurt my credit! Trying to hold onto it but the payments are so rediculous that its hard to make the rent!! i could move somewhere else and pay 25% of what I pay now!!

Jul 22, 2008 | 05:34 PM

#93

old man roger

also known as OMR

Joined: Jul 2006

Posts: 79,288

From: OMR INDUSTRIES in west palm beach florida

Re: Tice = HAI NO MORE

Quote:

Originally Posted by T-Ice

not all short sales hurt your credit specially if you qualify for certian programs and if you lose a job and have no income you will qualify as long as your lender will work with the programs that are available ..most realtors can tell you about the options you have and when it's all siad and done if done correctly you will end up showing a completed loan on your credit so it can actually improve your credit.

Jul 22, 2008 | 07:38 PM

#94

DSOG Thomas

Registered User

Joined: Sep 2002

Posts: 6,187

From: wherever the $$$ is

Re: Tice = HAI NO MORE

yeah good luck with that ****.. definately explore the programs... they should just say screw the arm and lock you in for a new fixed 30,

I dont know why banks dont do that **** anyways... it would save them a foreclosure... or at least postpone it for a while