2 pmts missed the connection, does the job, the loan value>. So .. Short selling now or stay at home for free so negative?

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Posted on Feb 28, 2011 | 5 comments

Soon in trouble and need help. Since she was 2 months only behing now and have no work, no money, and will have bad credit, it makes no sense to stay at home for the negative .. Rather than negotiate a short sale now? … To provide rent for sale in the near future is going through? At the present time, considering him to negotiate a short sale, but it may mean buying / include 2-3 months, then it and the rental place … And can still m wees.Ek unemployed ‘just trying to figure out when to stay in exchange for the negative short-sell the property …. And weigh the consequences of credit elk.En negotiate with the lender for a loan modification will not help. She had no job or money.

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I sold my home last year as a short sale and the first lien holder, wells fargo, took the short sale in stride and forgave what i owed, however, the ...

I use my old connection the remaining loan as part of my new home?

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home equity loan to pay off mortgage? or stay with home mortgage loan?

I have a mortgage rate of 6.375 and have paid on it for 7 years now. The 30 year loan is down to 19 years and 9 months to ...

The value of my tax on my house. I would like to refinance my first loan and add a home loan?

We moved and bought our house about a year and seven months in the region, which was more expensive than we were coming from. The total purchase price of $ ...

To get rid of bankruptcy home loan may

Remortgage/equity loan prior to selling home?

Would anyone be able to explain the value

My tax value on my home has increase.

You can refinance the house, where the value

is equity in home not free money? why

How can I get my second mortgage holder

I use my old connection the remaining loan

home equity loan to pay off mortgage? or

The value of my tax on my house.

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Community Answers

2-28-11

Coco says:

We were in the same position. We did a short sale. Short sale stays on your credit report for only 2 years, a foreclosure stays on for 7. If they do a foreclosure its better to just file for bankruptcy. Both are 7 years, (well, here in CA its 10 years for bankruptcy now) You can still live in your house for free until you sell it. If you dont sell it it will go into foreclosure.


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2-28-11

Ambivalence says:

good luck…


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2-28-11

loladrewblue says:

Because she missed only 2 payments she should talk to the lender to renegotiate the loan before it goes into foreclosure.


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2-28-11

Gina says:

If she is really broke and is losing other assets like a car or has other major debts piling up then as bad as this sounds I recommend letting the house go into foreclosure and filing bankruptcy. Typically I would lean towards short saleing the house but if she has no where to go then why not buy time by foreclosing if she is already f***ed. Also, if she can buy another month by negotiating with the mortgage co and then requesting a short sale she would have bought herself another month, plus if they reject the short sale offer the foreclosure will have only been stalled even longer and she would probably not have to be out until march. Good luck


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2-28-11

Paulee V says:

Loan modification is on its way and its the best choice. Problem is nobody knows how its going to work. I would contact your lender and ask.

Next short sale wont hit your credit as much as the foreclose and could take 6 mos to a year anyway!

I would take on room mates or whatever to keep my house.

good luck


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