 lease agreement (by Jody Mack [NV]) Aug 31, 2009 10:42 AM
 lease agreement (by Reid [KS]) Aug 31, 2009 11:13 AM
lease agreement (by Mike45 [NV]) Aug 31, 2009 11:26 AM
lease agreement (by Jody Mack [NV]) Aug 31, 2009 11:40 AM
lease agreement (by Jody Mack [NV]) Aug 31, 2009 11:43 AM
lease agreement (by phil [NY]) Aug 31, 2009 12:07 PM
lease agreement (by Jody Mack [NV]) Posted on: Aug 31, 2009 10:42 AM
Message:
State Specific Question About: NEVADA (NV)
If I sell my house on a short sale and want to purchase it back in the future, Is there anything in the chain of title that will prohibit me from doing so in NEVADA?
--65.40.xxx.xxx |
lease agreement (by Reid [KS]) Posted on: Aug 31, 2009 11:13 AM
Message:
If you do A short sale you probably won't be able to get a mortgage for quite some time . How far into the future do you think you'll be wanting to buy the place again ? Why not just keep it and try to refinance or modify the mortgage ? --70.250.xxx.xxx |
lease agreement (by Mike45 [NV]) Posted on: Aug 31, 2009 11:26 AM
Message:
I think the concern is not your ability to re-acquire the property, but the question of whether your doing so would revive the loan obligation. I don't know the answer, but I do recall some discussion of this. It seems that some people have used a short-sale/re-acquisition scheme as a way to reduce their mortgage, and the lenders view this as fraudulent.
I think you need to consult with a Nevada attorney.
--216.175.xx.xxx |
lease agreement (by Jody Mack [NV]) Posted on: Aug 31, 2009 11:40 AM
Message:
I tried to modify the loan. BOA isn't interested. Would like to buy it back within 2 years or so.
what are your thoughts?
--65.40.xxx.xxx |
lease agreement (by Jody Mack [NV]) Posted on: Aug 31, 2009 11:43 AM
Message:
The owner is not a member of my family. He is an investor who I asked when he put the offer in to purchase the house, if he would be interested in letting me have first position if and when he wants to sell the home. I was wondering if there are any laws that do not allow you to repurchase the same house again in the future. --65.40.xxx.xxx |
lease agreement (by phil [NY]) Posted on: Aug 31, 2009 12:07 PM
Message:
I highly doubt your agreement of right of first refusal would even be an enforceable contract; let alone the main fact, that absent a cash purchase you will not qualify for a loan 2years removed from a short sale even if you could some how recover from the 200 point drop in your credit score within two years the short sale itself will disqualify you from convectional loans, leaving you to work out a deal with the investor at rates and term you may not find reasonable --205.188.xxx.xx |
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