Comments on: Homeowner Benefits of Real Estate Short Sales http://www.kristalsellsdenver.com/denverdwellings/short-sale-benefits/3179/ Kristal Kraft...Selling Denver and the 'Burbs! Sat, 28 Jan 2012 23:19:02 +0000 hourly 1 By: Top 10 real estate posts of the day for 1/6/2009 http://www.kristalsellsdenver.com/denverdwellings/short-sale-benefits/3179/comment-page-1/#comment-4796 Top 10 real estate posts of the day for 1/6/2009 Thu, 11 Mar 2010 05:43:12 +0000 http://www.kristalsellsdenver.com/denverdwellings/?p=3179#comment-4796 [...] Homeowner Benefits of Real Estate Short Sales – Kristal continues her short sales series on taking a look at the benefits of sellers doing [...] [...] Homeowner Benefits of Real Estate Short Sales – Kristal continues her short sales series on taking a look at the benefits of sellers doing [...]

]]> By: Kristal Kraft Denver Realtor http://www.kristalsellsdenver.com/denverdwellings/short-sale-benefits/3179/comment-page-1/#comment-4767 Kristal Kraft Denver Realtor Sun, 21 Feb 2010 14:09:09 +0000 http://www.kristalsellsdenver.com/denverdwellings/?p=3179#comment-4767 Your statement is correct in that the bank can pursue the homeowner for a deficiency judgment. Transactions I have been involved with have required a signed agreement between the bank and the homeowner precluding the bank from pursuing a deficiency judgment in the future. The seller was fully aware of the possibilities of future liability therefore knew the importance of negotiating correctly at the onset. If you reread my post you will see I did mention late payments would effect credit rating. Once again, a short sale is more favorable on the credit than a foreclosure. Your statement is correct in that the bank can pursue the homeowner for a deficiency judgment. Transactions I have been involved with have required a signed agreement between the bank and the homeowner precluding the bank from pursuing a deficiency judgment in the future. The seller was fully aware of the possibilities of future liability therefore knew the importance of negotiating correctly at the onset.

If you reread my post you will see I did mention late payments would effect credit rating.

Once again, a short sale is more favorable on the credit than a foreclosure.

]]> By: Lou http://www.kristalsellsdenver.com/denverdwellings/short-sale-benefits/3179/comment-page-1/#comment-4765 Lou Sun, 21 Feb 2010 01:43:55 +0000 http://www.kristalsellsdenver.com/denverdwellings/?p=3179#comment-4765 Your comment that a short sale is not a negative is INCORRECT in a lot of states. Although the lender agrees to the lesser amount, in many cases THE SELLER is still responsible for the deficiency balance left by the short sale. It can be marked as a collection account also. In addition it can be marked as "paid at less than the full amount" or "paid at less than the agreed amount" which are negative marks on your credit. Lastly, most short sale approvals only go thru AFTER mortgage payments are missed, which is very negative on your credit. Your advice could mislead many people into a bad decision. People should seek the advice of a mortgage professional, a real estate professional AND a REAL ESTAQTE ATTORNEY BEFORE making this very big decision. Your comment that a short sale is not a negative is INCORRECT in a lot of states. Although the lender agrees to the lesser amount, in many cases THE SELLER is still responsible for the deficiency balance left by the short sale. It can be marked as a collection account also. In addition it can be marked as “paid at less than the full amount” or “paid at less than the agreed amount” which are negative marks on your credit. Lastly, most short sale approvals only go thru AFTER mortgage payments are missed, which is very negative on your credit. Your advice could mislead many people into a bad decision. People should seek the advice of a mortgage professional, a real estate professional AND a REAL ESTAQTE ATTORNEY BEFORE making this very big decision.

]]> By: How Does a Homeowner Benefits from a Short Sale? | Denver Short Sales http://www.kristalsellsdenver.com/denverdwellings/short-sale-benefits/3179/comment-page-1/#comment-4600 How Does a Homeowner Benefits from a Short Sale? | Denver Short Sales Thu, 14 Jan 2010 04:48:07 +0000 http://www.kristalsellsdenver.com/denverdwellings/?p=3179#comment-4600 [...] benefits of doing a short sale far outweigh the negatives, read more about it here. < Posted by kristalk Filed in Short Sale in Denver Tags: Colorado, Denver, distressed home [...] [...] benefits of doing a short sale far outweigh the negatives, read more about it here. < Posted by kristalk Filed in Short Sale in Denver Tags: Colorado, Denver, distressed home [...]

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