Posted on: 27th May, 2010 05:19 pm
well i call my bank and they tell me to put my house for short sale a least for 90 days before anything
Hi franciscopina!
Welcome to forums!
You can negotiate with your bank once again for a deed in lieu of foreclosure. If the bank does not accept it, then you can go ahead with the short sale. You will have to list the property in the market for short sale. The lender will sell off the property to recover the dues. However, you would remain liable for the deficient balance resulting from the sale of the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can negotiate with your bank once again for a deed in lieu of foreclosure. If the bank does not accept it, then you can go ahead with the short sale. You will have to list the property in the market for short sale. The lender will sell off the property to recover the dues. However, you would remain liable for the deficient balance resulting from the sale of the property.
Feel free to ask if you've further queries.
Sussane