Stella's Social Club

[The Sheriff]

Mary - great news on the short sale!

Thanks!

 

[1muttsfan]

I am not too up on house buying and selling - does short sale mean that it happens in a short time?

My sisters and I are ready to close on selling my Dad's house. He has been gone for just over a year, and in his will he stipulated that the house would be offered to his neighbor and great friend who was so helpful to him for years before he died (which was fine with us). Jay and his wife have finally arranged the financing, so today my sister and I went through the house one last time. They are taking the house completely as is, including disposing of all of Dad's Stuff that he had accumulated after we took whatever we wanted of it. It was very sad, almost like saying goodbye to Dad again, but it will be good to not have the house siting there like a sore tooth, always on the back of your mind.

 

[ronott1]

I am not too up on house buying and selling - does short sale mean that it happens in a short time?

My sisters and I are ready to close on selling my Dad's house. He has been gone for just over a year, and in his will he stipulated that the house would be offered to his neighbor and great friend who was so helpful to him for years before he died (which was fine with us). Jay and his wife have finally arranged the financing, so today my sister and I went through the house one last time. They are taking the house completely as is, including disposing of all of Dad's Stuff that he had accumulated after we took whatever we wanted of it. It was very sad, almost like saying goodbye to Dad again, but it will be good to not have the house siting there like a sore tooth, always on the back of your mind.

I hope the rest of the sale goes well!

 

[mlm Mike]

Harper had her puppies tonight! Squee! Giving her some time with them before I take a closer look, all black tris and blue merles. I think I counted 7!

Congratulations!

At least this time the puppy pictures won't make me want to run out and get a puppy. I think the only thing worse than temporary homelessness would be doing it with a new puppy!

We actually found out yesterday that the process of short sale approval is moving along quicker than anticipated. The first mortgage bank has been working with our offer and has made an offer of $8,000.00 to the second mortgage bank. My realtor says this means we may only be living in the motor home weeks versus months! I like that! Apparently from the time the second mortgage bank signs off on the offer, we have only 30 days to close.

I didn't realize you were going to be homeless. Good luck with your sale and purchase.

I am not too up on house buying and selling - does short sale mean that it happens in a short time?

My sisters and I are ready to close on selling my Dad's house. He has been gone for just over a year, and in his will he stipulated that the house would be offered to his neighbor and great friend who was so helpful to him for years before he died (which was fine with us). Jay and his wife have finally arranged the financing, so today my sister and I went through the house one last time. They are taking the house completely as is, including disposing of all of Dad's Stuff that he had accumulated after we took whatever we wanted of it. It was very sad, almost like saying goodbye to Dad again, but it will be good to not have the house siting there like a sore tooth, always on the back of your mind.

I hope the sale goes well.

 

[Happy Chooks]

I am not too up on house buying and selling - does short sale mean that it happens in a short time?

My sisters and I are ready to close on selling my Dad's house.  He has been gone for just over a year, and in his will he stipulated that the house would be offered to his neighbor and great friend who was so helpful to him for years before he died (which was fine with us).  Jay and his wife have finally arranged the financing, so today my sister and I went through the house one last time.  They are taking the house completely as is, including disposing of all of Dad's Stuff that he had accumulated after we took whatever we wanted of it.  It was very sad, almost like saying goodbye to Dad again, but it will be good to not have the house siting there like a sore tooth, always on the back of your mind.

So sorry you are having to go through it all again. Hope it closes quickly for you.

A short sale is where you sell a house for less than you owe in it. They can take forever because the bank (or banks if multiple loans) have to approve it. It knocks your credit down, but isn't as bad as a foreclosure to your credit.

 

[drumstick diva]

Mary & Michael and Tucker, won't be homeless they can always bunk with Kelly. Right Kelly .......

 

[The Sheriff]

So sorry you are having to go through it all again. Hope it closes quickly for you.

A short sale is where you sell a house for less than you owe in it. They can take forever because the bank (or banks if multiple loans) have to approve it. It knocks your credit down, but isn't as bad as a foreclosure to your credit.

In the case of the sellers of the home we are buying, there are two loans, a first and second mortgage. These can take months to get through. It seems as if this one might be making pretty good progress. The banks want to get the short sales and foreclosures off their books. Since the bank bailouts, the new rule is that they cannot loan money on any amounts in default. So for every dollar that isn't being paid, they can't make a loan to someone else. This works in our favor getting through the system. We originally thought we might be living in the motorhome for months waiting for the short sale approval. We weren't too worried about it because our house hadn't sold. Now it appears as if both transactions might happen much closer together.

 

[speckledhen]

So sorry you are having to go through it all again. Hope it closes quickly for you.

A short sale is where you sell a house for less than you owe in it. They can take forever because the bank (or banks if multiple loans) have to approve it. It knocks your credit down, but isn't as bad as a foreclosure to your credit.

My son's townhouse was sold as a short sale. The market crashed after he bought it. Paid $145K for it. The new owners paid $45K. Can you believe that? Values were that bad for awhile. Doesn't seem right at all. He even put on a new roof when he was there. Best of luck, Mary. I hated living in that RV in my driveway for four months after the house fire. I never want to see one again.

 

[The Sheriff]

I never want to see one again.

Ahh, I can do it. I think.

 

[lonnyandrinda]

In the case of the sellers of the home we are buying, there are two loans, a first and second mortgage. These can take months to get through. It seems as if this one might be making pretty good progress. The banks want to get the short sales and foreclosures off their books. Since the bank bailouts, the new rule is that they cannot loan money on any amounts in default. So for every dollar that isn't being paid, they can't make a loan to someone else. This works in our favor getting through the system. We originally thought we might be living in the motorhome for months waiting for the short sale approval. We weren't too worried about it because our house hadn't sold. Now it appears as if both transactions might happen much closer together.

Yippee!!!

Yes, they are Australian Shepherds. And SO precious! They all have good to excellent markings, too. Almost makes me forget how obnoxious they will be in about 3 months if they aren't in new homes by now! Think I have one of them sold (the darker red merle female), just waiting on her to check with her husband and make the deposit. 6 more to go!

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