Submitting multiple short sale offers at the same time on different properties in Cal

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This topic contains 3 replies, has 2 voices, and was last updated by  Anonymous 7 years, 1 month ago.

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  • #199477

    Anonymous

    Due to the awful waiting game that goes along with short sales, is it*okay to submit*two separate short sale offers at the same time on different properties in southern California (Inland Empire) and see who gets back to you first*if you*like both properties equally?*Is there a chance that you*could end up losing your deposit money or, even worse, getting stuck with 2 homes if*the RPA on both contracts includes a loan contingency removal “within 17 days after acceptance, buyer shall, as specified in paragraph 14, in writing remove the loan contingency or cancel this agreement?”

  • #414672

    Anonymous
  • #414673

    Anonymous

    Which companies did they check with? Were they big name banks? This might be a situation where a mortgage broker may come into play. Is there any equity in the house? I’d be happy to look at the situation for you if you’d like. I would just need to know a little more information such as what state you’re in, what’s wrong with their credit, what’s their credit score, how much do they owe and the value of the home. If that doesn’t work I know Countrywide has several programs to help out. My daughter works in their servicing dept. If you want you can email me the information and I’ll see what I can do to help your parents.

    Good luck.

  • #414674

    Anonymous

    try Mycommunity or FHA….you maybe able to do the financing if there’s not credit lates in the4 last 12months.

    a problem that you may have is that it will be a refinance cash out……if you took out the 2nd loan after the first loan

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