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매일 뉴스 (Daily News)

Ask a real estate pro: Lender won’t waive short sale deficiency * 마이애미 부동산 *

* 마이애미 부동산 *

By Paul OwersSeptember 7, 2012 07:00 AM

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Board-certified real estate attorney Gary M. Singer writes about the housing market in this space each Friday. To ask him a question about short sales, mortgages, refinancing, homeowner’s associations or any other residential real estate topic, click here.

Q: I am unemployed and without any savings. I own a rental house that is “underwater,” and I’m behind on payments. My efforts to rent the property have not produced nearly enough money. I spoke to the lender, which will allow a short sale, but the bank will not waive the deficiency. What are your thoughts? – Bob

A: The purpose of trying for a short sale is to work out a settlement with the lender and reduce or eliminate the remaining debt. But if your lender will not waive the deficiency and you do not want a judgment hanging over your head, then bankruptcy may be a good answer for you. If you aren’t eligible for bankruptcy, you should continue working with your lender to forgive the debt through a short sale. You may want to explain your situation and let the bank know that you are considering bankruptcy. That may change the lender’s position.

* 마이애미 부동산 *

Q: I received a summons from my homeowner’s association, which is trying to foreclose on my house and get money for damages. I am pretty sure that condominium associations can do this, but what about homeowner’s associations? – Linda

A: In Florida and many other states, homeowner’s associations are similar to condominium associations, and they have the right to put a lien on and foreclose your home. Associations are generally able to foreclose quicker than lenders, so it’s best to try to work things out, especially considering that you still will have to pay back the mortgage to the bank even if your home is foreclosed by the association.

The information and materials on this blog are provided for general informational purposes only and are not intended to be legal advice. No attorney-client relationship is formed, nor should any such relationship be implied. Nothing on this blog is intended to substitute for the advice of an attorney, especially an attorney licensed in your jurisdiction.

To follow Gary Singer on Twitter, click here.

* 마이애미 부동산 *

About jennyformiamihome

성심껏 도와드리겠습니다. 연락주시면 바로 상세히 답변드립니다. Jenny Shin / 신정미 부동산 (Broker's Real Estate) 남부 플로리다 마이애미 지역 한인 부동산 주택매매 렌트 싱글하우스 타운하우스 콘도 브라워드 카운티 마이애미 데이드 카운티 포트로더데일 웨스턴 코랄스프링 도랄 Rent or Buy single house, town house and Condo Miami Dade County / Broward County, fort lauderdale, coral springs, copper city, weston, doral 1398 SW 160TH AVE. SUITE 105 Weston, FL. 33326 Direct : 954-551-0236 Office : 954-384-1616 Fax : 954-697-0447 E-mail : jenny_shin62@hotmail.com

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JENNY SHIN PROFILE


Jenny Shin / 신정미 부동산
(Broker's Real Estate)
1398 SW 160TH AVE. SUITE 105
Weston FL 33326
Direct : 954-551-0236
Office : 954-384-1616
Fax : 954-697-0447
E-mail : jenny_shin62@hotmail.com

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