Many of you have short sales. Let's face facts. There is nothing short about a short sales. Realtors and buyers are avoiding short sales like the plague. The reason is that short sales take too long to close. This article will dispel some of the myths about short sales as well as some common pitfalls and most notably, how to preapprove a short sale for a quick closing.
The seller of a short sale waits for an offer and then the short sale package is sent along witha contract to the short sale lender. A month passes, and then two, and no answer from teh short sale lender. Meanwhile, the short sale buyer has left and is no where to be found. This is why everyone hates short sales.
The solution is for the short sale submision to take place prior to the short slae buyer's contract. There are many ways to accomplish this but few of them are compliant. The only short sale preapproval method that I know of that is short sale compliant is forund at the Florida short sale preapproval site.
There will be more on the short sale preapproval written at a later date.
Saturday, August 30, 2008
Sunday, August 10, 2008
Studying the FHA rules Through the FHA Handbook
The FHA rules are listed in the FHA Handbook which is called the 4155.1. This is the information that the FHA direct Endorsement Underwriter uses to approve FHA loans in Florida and mortgage loans throughout the United States. Once you reveiew the FHA oans and buy real estaet using an FHA loan, you will have the FHA rules understood as to qualifying debt to income and LTV requirements.
FHA rules in PDF form. The FHA 4155 as a PDF document online is useful for those seeking mortgage underwriting knowledge. FHA also alows a short sale called an FHA preforeclosure sale.
FHA rules in PDF form. The FHA 4155 as a PDF document online is useful for those seeking mortgage underwriting knowledge. FHA also alows a short sale called an FHA preforeclosure sale.
Sunday, August 3, 2008
Florida Deficiency Judgment Song
Cruisin' on down Main Street
You're relaxed and feelin' good
Next thing that you know you're seein
'Octopus in the neighborhood!
Surfin' on a sound wave Swingin' through the stars
Take a left at your intestine
Take your second right past Mars.
On THE FLORIDA DEFICIENCY JUDGMENT
Navigate a nostril
Climb on THE FLORIDA DEFICIENCY JUDGMENT
Spank a plankton, too
On our Florida deficiency judgment
Raft a river of lava
On THE FLORIDA DEFICIENCY JUDGMENT
Such a fine thing to do!
So strap your bones right to the seat
Come on in and don't be shy --
Just to make your day complete
You might get baked into a pie
On THE FLORIDA DEFICIENCY JUDGMENT
...Step inside -- it's a wilder ride!
Come on -- ride on THE FLORIDA DEFICIENCY JUDGMENT!
Cruisin' on down Main Street
You're relaxed and feelin' good
Next thing that you know you're seein
'Octopus in the neighborhood!
Surfin' on a sound wave
Swingin' through the stars
Take a left at your intestine
Take your second right past Mars.
On THE FLORIDA DEFICIENCY JUDGMENT
Navigate a nostril
Climb on THE FLORIDA DEFICIENCY JUDGMENT
Spank a plankton, too
On our Florida deficiency judgment
Raft a river of lava
On THE FLORIDA DEFICIENCY JUDGMENT
Such a fine thing to do!
So strap your bones right to the seat
Come on in and don't be shy
--Just to make your day complete
You might get baked into a pie
On THE FLORIDA DEFICIENCY JUDGMENT
...Step inside -- it's a wilder ride!
Come on -- ride on THE FLORIDA DEFICIENCY JUDGMENT!
That was the florida deficiency judgment song and you will not be able to get the deficiency judgment in florida song out of your head for at least 24 hours. Maybe you will be able to get the deficiecny judgement song out of your head sooner.
You're relaxed and feelin' good
Next thing that you know you're seein
'Octopus in the neighborhood!
Surfin' on a sound wave Swingin' through the stars
Take a left at your intestine
Take your second right past Mars.
On THE FLORIDA DEFICIENCY JUDGMENT
Navigate a nostril
Climb on THE FLORIDA DEFICIENCY JUDGMENT
Spank a plankton, too
On our Florida deficiency judgment
Raft a river of lava
On THE FLORIDA DEFICIENCY JUDGMENT
Such a fine thing to do!
So strap your bones right to the seat
Come on in and don't be shy --
Just to make your day complete
You might get baked into a pie
On THE FLORIDA DEFICIENCY JUDGMENT
...Step inside -- it's a wilder ride!
Come on -- ride on THE FLORIDA DEFICIENCY JUDGMENT!
Cruisin' on down Main Street
You're relaxed and feelin' good
Next thing that you know you're seein
'Octopus in the neighborhood!
Surfin' on a sound wave
Swingin' through the stars
Take a left at your intestine
Take your second right past Mars.
On THE FLORIDA DEFICIENCY JUDGMENT
Navigate a nostril
Climb on THE FLORIDA DEFICIENCY JUDGMENT
Spank a plankton, too
On our Florida deficiency judgment
Raft a river of lava
On THE FLORIDA DEFICIENCY JUDGMENT
Such a fine thing to do!
So strap your bones right to the seat
Come on in and don't be shy
--Just to make your day complete
You might get baked into a pie
On THE FLORIDA DEFICIENCY JUDGMENT
...Step inside -- it's a wilder ride!
Come on -- ride on THE FLORIDA DEFICIENCY JUDGMENT!
That was the florida deficiency judgment song and you will not be able to get the deficiency judgment in florida song out of your head for at least 24 hours. Maybe you will be able to get the deficiecny judgement song out of your head sooner.
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