Posted on: 29th Oct, 2009 10:09 am
hello my house is for short sale the lender has all the paper work with and offer from buyer wath can happen if I stop paying my morgage?1st and 2nd loans with same lender does my credit will lower more ?and do i have to pay any extram on taxes or to lender?
It depends on what your short-sale agreement is with your Lender - and only you know that. What does your agreement say?
I don't have any agreement jet a just send the paper work that they require with an offer from the buyer still waiting on the lender answer to see if they will accept the short sale work out plan witch I don't think they will because the total loan amount is 610,000 and the value of the house on this area is around 240 ,000 (the offer is for 260,000) but they have denied two attempts for loan modification never been late on any payment and I just dont understand why they did no approve the loan modification because I was unable to do the payments
