I'm going to be spending my 29th birthday in Juarez. FML.

 

under normal circumstance that would be a problem but the simple fact of the matter is the property every where has gone down in value and the banks know if they dont do short sales they are just gonna have a **** load of foreclosures , i mean more than they have already...

now a **** load of equity and being able to afford it could be a problem

 

different nomenclature ... buuuut i still don't think her face is hit

 

tequila and hookers buddy

 

lots of people are walking away from a house because it's the smart economic move ... problem is you are not a hardship case so chances are the bank won't deal with you because you don't qualify for loan mitigation ... bank probably won't even talk to you about it until you miss a couple payments honestly ... the foreclosure will be on your credit for 7 years but as long as you are already lined up for your next place to live who cares, it's a personal financial business decision, businesses walk away from bad debt all the time and they aren't scorned like we as consumers are. i've actually been thinking about it myself ... been doing some financial analysis, npv and cash flow calcs and the irr for me all point to just walk away and move on up ...
who's your mortgage through? they may treat things differently since detroit area is one of the worst in the country ....

 

the banks always tell you no at first but when you have a buyer the story changes , they almost always end up sending out an appraiser and letting the deal go through for fair market value which right now is more then likely way less then what he owes on the house ...

never take no for an answer and a cash buyer will always make the deal easier ..

 

What's the incentive for a bank to do a short sale as opposed to a foreclosure?

 

they get something for it and aren't stuck with a vacant house in a real shitty area (real estate wise) ... they don't have to deal with resale etc.

 

and he is talking about a short sale not a loan modification , big difference ..

and scott if you are serious about walking away from your house dont just leave , i have seen people stay in their house for literally years with out paying any thing but there utilities , in some situations banks have actually told people to stay in the house and didnt even finish the foreclosure process because they have so many , the house is in lp but not actually foreclosed on yet ..

 

money ..it cost them alot to foreclose and then they are responsible for the house , a short sale cost them less and the house is no longer their responsibility

 

Hot mexican line workers. Unfortunately I will be measuring parts for 12 hours a day.

 

lender will probably want to see a copy of the seller's tax returns and / or a financial statement to prove hardship for the short sale niner, hence the reason I said you better start moving finances now ... they could even look ar your ira/401k **** as assets and say no way

don't forget even a short sale will affect your fico score

 

p.s. niner not sure how your bank operates but i would suggest asking for a supervisor right off the bat when you call to talk to someone

 

lol ... ya take advise from the IT guy not the guy that made his living off short sales for 10 years ...

 

you don't know niner's situation, it's quite evident just from your posts you have paid absolutely no attention to what niner has said about the area he lives in.

i am not some guy running a few computers or fixing desktops, i run enterprise systems and handle a datacenter that you wouldn't even understand the power schema in, i make impactful financial decisions daily you on the other hand are a joke.

my master's is in finance you old ****

 

first of all practical experience in short sales is better than your possible future masters degree and secondly you are the one losing your house ...im done here ....lol

 

well while Scoot and OMR compare dick size here's something for the rest of you:

 

 

 

her face isnt up to par with the rest of her body. heres one of the better face pics