Posted on: 20th Dec, 2008 08:52 am
My friend's home is worth $150K. She owes $180k on it. No payments have been made for 5 months. She has divorced, and moved out of the house. What to do????
I am not sure of your question. If she is behind and owes more than it is worth, she might be able to do a short sale. Foreclosures at this time are taking a while to be completed. A short sale is reported to the credit bureau just like a Foreclosure, so I am not sure unless she has a buyer that it would help.