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Pooka
Oh Happy Day!!
Member since 11/06 5689 total posts
Name:
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Short sale?
STBX and I are going through a divorce. We had our home appraised it it's worth 50,000 less than what we owe on the mortgage. We don't have the money to put in $50,000. We have it listed to be rented and just lowered the asking rent, but even then we would still have to contribute $300 each towards the remaining balance on the mortgage each month. I feel stuck with this house.
Does anyone have experience with short sales? Does it totally kill your credit? Would I be able to get approved for an apt after a short sale?
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Posted 10/31/10 10:51 PM  |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: Short sale?
you need to talk to your bank. as far as I know, they don't just give you a short sale. you have to talk to them and ask them for it. you may be denied it, in which case the only way out is to sell for the full value or come up with 50K
I'm sorry your going through this  hope it all works out
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| Posted 11/1/10 3:43 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Short sale?
the bank has to approve the short sale
it's not the home owners job to get that done
Short sales that are done by professionals are rarely denied by the bank- esp with hardships in today's market
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| Posted 11/1/10 3:51 PM |
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Re: Short sale?
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Message edited 4/21/2011 5:17:58 PM.
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| Posted 11/1/10 4:09 PM |
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