Insurance FAQ
 

Would A Short Sale Be An Option? Can I Use The Private Mortgage Insurance?

Question by cam | Posted in Renting & Real Estate

I have a house in a rural area of Pennsylvania. I work for the Army and will never be returning to the area where the house is located. I have had it on the market for about 9 months and recently got an offer. I owe $52,000 on the house, the offer was for $40,000. I will likely counter offer but it will still leave me a bit short. Best case scenario I am looking at losing about $8,000 with the commission,etc simply to be able to walk away from the table at closing. I am losing money on this house

Answer: You must have your lender approve the short sale. If you tried to sell it for less than you owe, the title search will turn up the lender, who will be notified of the sale during escrow. They will then reject the amount of money necessary to clear the title and the deal will fall through. The only way you could do this is to come up with the $8000 (or whatever the outstanding payoff would be after all escrow fees, real estate agent commissions, etc.) and submit that into escrow prior to closing, as directed by the escrow instructions.

With a short sale, you must have a hardship that prevents you from continuing to pay for the property. And, forced relocation may be a valid hardship.
 
 

Will Obama's Stimulus Plan ACTUALLY PROLONG Rather Than CURTAIL The Current RECESSION Like FDRs NEW DEAL Did?

Question by demhater | Posted in Elections

Acccoring to a Wharton economics professor in Pennsylvania at the #1 business school that is exactly what it will do
Mr. Cole is professor of economics at the University of Pennsylvania. Mr. Ohanian is professor of economics and director of the Ettinger Family Program in Macroeconomic Research at UCLA.


According to him:
The New Deal is widely perceived to have ended the Great Depression, and this has led many to support a "new" New Deal to address the

Answer: prolong, stimulus i guess by that you mean the raping of americans wallets, cause thats all it is

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Obama taps Pa. Insurance Commissioner Ario to create health ...

Ario was Oregon’s insurance commissioner prior to moving to Pennsylvania. He will serve as director of the Office of Insurance Exchanges of the Office of Consumer Information and Insurance Oversight. Pratter has served as the executive deputy general counsel for litigation with the state’s Office of General Counsel since 2008. Through the exchanges, consumers and small business owners will be able to compare prices and buy their health insurance in a competitive marketplace.  His new position and the health exchanges, set to launch in 2014, are part of the federal health reform law enacted in March.   During his legal career, Pratter has specialized in regulatory, corporate and judicial proceedings affecting the insurance industry. Pratter, an executive deputy general counsel, will take over for Ario on an interim basis, starting Aug....

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