Posted on: 31st May, 2009 05:05 pm
i was transferred to north carolina after company here closed. my house has been on market 6 months. we have dropped asking price 15.000.00 and are now listing it for less than what we owe on our mortgage, i am at the point of just walking away and letting the bank take it. the commute back and forth from atlanta to charlotte has put stress on my marriage and family. i have contacted my mortgage company on trying a short sale. but i also have a second mortgage too. any advice.
Hi gaskin_s,
Though your first lender agrees for a short sale, you would still be liable for the second mortgage. The second mortgage lender will have the right to collect the dues from you. If you cannot pay the dues, the second lender would either garnish or charge off the loan.
Thanks
Though your first lender agrees for a short sale, you would still be liable for the second mortgage. The second mortgage lender will have the right to collect the dues from you. If you cannot pay the dues, the second lender would either garnish or charge off the loan.
Thanks
Hi gaskin_s,
Welcome to forum.
I would like to advice you that, Today's market is having low rates so you cannot sell your home profitable prize. Sell you house while market rates going up (^). You can get best selling prize for your house.
Thanks & Regards.
Welcome to forum.
I would like to advice you that, Today's market is having low rates so you cannot sell your home profitable prize. Sell you house while market rates going up (^). You can get best selling prize for your house.
Thanks & Regards.
