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May. 31, 2008 - a misnomer, $4.09 for gas and all we need is one!!!!
Short Sale. Ever heard that term? If you are in the market for a home lately you should be really familiar with the term. Now you'd think what with the words SHORT and SALE together it would mean that the SALE of the home would take a SHORT time. wrong. SO. Wrong.
Short Sale. In real estate, a short sale is when a bank or mortgage lender agrees to discount a loan balance due to an economic hardship on the part of the mortgagor. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender in full satisfaction of the debt. In such instances, the lender would have the right to approve or disapprove of a proposed sale. (thank you Wikipedia)
Notice the words lender....discount balance..........and approve...in that paragraph. Lender meaning bank full of bank workers involving lots of paperwork, several departments and agreeing to take less money than is owned on the loan. So a short sale is really a long process of the bank agreeing to take LESS money than the mortgagor owes. (here is San Diego it means the home was purchased 3-5 years ago for mega bucks - in the 600,000 range - and now they can only sell it for the 375-400,00 range) The price is good for us but the time period....60-90 days...is not good for us.
ANY WAY, so we have spent much time and gas ( at $4.09 and up a gallon) driving around looking at homes (short sale and bank owned) like these.
 (nice yard, nice house, nice distance from neighbors..waiting for approval)
(totally had everything on our list of wants....missed it by a few hours)
(personalized sink.........)
(huge yard....green pool...needs work)
(master bath......don't ask)
So....all we need is one. We'd appreciate your prayers.
© Copyright 2008 Called Home
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Post A Comment!
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Jun. 1, 2008 - Untitled Comment |
| Posted by 4sweetums |
Yikes on the master bath. I am so happy that we decided to stay put during this time period. My prayers are with you for a smooth transaction.
Blessings,
Dawn |
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Jun. 2, 2008 - Untitled Comment |
| Posted by Anonymous |
| So exciting! Can't wait to hear what God blesses you with! :) |
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About Me
Simply trying to obey Gods' call to raise up our children in the way they should go and to school them at home in the process.
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