Posted on: 13th Dec, 2010 05:19 pm
I am upside down on my house and have been advised not to rent due to swimming pool and the liability (accountant and insurance agent). Should I just walk away from home, try to short sale, what? Not leaving for little over 5 months and don't want to be in the street. All material items being shipped in March. Not late on payments, but can't afford both home here and there. How long does it take Wells Fargo to evict someone with ie. sherrif at the door? Would I have the 5 plus months to stay in home. Neighbor stayed for 1 and half years without making payment. Would sell if I could, but can't get what is owed.
Can I still try to short sale after I am say three months late so that it will by me some time?
I hate to do this, this is my dream home and have put a great deal of up-grades into it since purchase. But, I am not ever going to live in this state again and won't be back in US for probably 10 or more years.
Can I still try to short sale after I am say three months late so that it will by me some time?
I hate to do this, this is my dream home and have put a great deal of up-grades into it since purchase. But, I am not ever going to live in this state again and won't be back in US for probably 10 or more years.
Hi tks!
Welcome to forums!
If you're delinquent on your mortgage dues for more than 3 months, then the lender will start off with the foreclosure process. The foreclosure process will take around 90 days to complete. You can try to short sale the property once you're late on your payments. However, it will be the lender's discretion whether or not he will consider your request for short sale.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you're delinquent on your mortgage dues for more than 3 months, then the lender will start off with the foreclosure process. The foreclosure process will take around 90 days to complete. You can try to short sale the property once you're late on your payments. However, it will be the lender's discretion whether or not he will consider your request for short sale.
Feel free to ask if you've further queries.
Sussane