A. One twelfth of your total balance
B. A percentage of your current balance
C. the dollar amount required to avoid foreclosure
D. The dollar amount specified in the truth in lending act

B for sure
/

Is it true that investors and Market makers who have naked short selling must cover before a public company can go private? If so, how is it determined how many days it would take for them to cover and how can you tell which day would have the highest bid price?

<<<What happens to short selling when company goes private?>>>

Existing short positions will have to be covered and new short positions will not be allowed.

<<<Is it true that investors and Market makers who have naked short selling must cover before a public company can go private?>>>

No. It is not the responsibility of the company to make sure the short positions are covered, so they can go private even if there are short positions outstanding. There should not be any short positions outstanding because it is the responsibility of the brokerages to make sure the short positions are borrowed from existing shares. If the shares will no longer exist the brokerage cannot have shares to lend and must require the short positions be covered.

<<<If so, how is it determined how many days it would take for them to cover>>>

It is up to the brokerage to make sure they have an adequate supply of shares to lend, so the brokerage decides how many days ahead of time they will force short positions to be covered.

<<<how can you tell which day would have the highest bid price?>>>

You cannot.

We’ve been looking at short sale homes for 1 month and found one we like. The previous couple interested in one particular home changed their minds but the BPO was already completed. I put an offer on it, $4k more than the listing price b/c another couple is also intersted but I was told they were going to "low-ball" it. Our realtor said "everything looks good" and that we’d hear something in 1-2 days, that was 1 week ago. How long should we wait? We’re trying to buy before 11/30 so we can get the $8k tax credit, plus our lease is up 12/31.
Forgot to mention, that when I put in the offer, our realtor drew up a contract with a closing date of 10/30.

if initial short sale was approved then it should be a few weeks at most. But a BPO being done does not mean it was approved. A BPO is just one of the steps the seller’s lender takes in evaluating a short sale request.

I am on day 147 of a short sale offer and still waiting for final approval from bank.

if you go month to month after 12/31 you are in a great position to be patient on short sales. rare chance you will make the 11/30 deadline.

I have been into a short sale in Ca. for almost 6 months. The seller owed on 2 mortgages. The 1st bank accepted my offer…which was over the appraised value…the 2nd bank refused to take the $6000 offered via the Hafa program. The 2nd did offer to accept another $8000..making their take $14000. I offered to pay them the difference. I demanded an Addendum to be signed stating that I was to pay the additional money to the second and then be released of any further responsibility. The selling agent refused to present the Addendum to either bank and wanted me to pay him under the table so he could pay the 2nd lender. I refused and he sent me a cancellation notice to sign and said "this file is closed". Do I have any legal rights?

maybe

im renting a home that is either going to be auctioned or the bank allows the owner to short sell. Does my rent paymnet each month to the landlord "buy" my "right to possesion" from the landlord? Does putting a "for sale" sign and lockbox violate any part of Civil Code, because the sign and lockbox are not alterations, decorations, or exhibits defined in the Civil Code. So can i remove the sign and lockbok without causing damage and taking pictures to protect myself from vandalism charge.

You can not interfere with his sale, no removing of signs or lock boxes (which are seperate private property worth enough to send you to prison if you damage them).

While you are correct, you are in possession, you are incorrect in that it gives you rights as if you owned, the owner still has a limited set of rights. Selling, including showing, his property is a right the owner retains.

Ever wonder what short selling is?

Short selling is a bet against a stock or a company. It is a way to profit as stock prices decrease. Shorting stocks is pretty risky, so make sure you learn the basics here!

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