Posted on: 07th Sep, 2008 06:43 pm
I need to move home to help my mom with my father and grandfather who are both having major orthopedic surgeries in October since I am a physical therapist. I have listed my condo on the market as a short sale since the lender has told me too. We have had 1 interested person in the last month but not much action. The price is half of my current mortgage and there is still no interest.
I want to move home before October but am not going to be able to pay for a mortgage in FL and rent up North. I want to do the best of the worst things for my credit but at this point I am about ready to do anything. My lender Aurora Loan Services says it will have an answer for me on Sept 15 which will have been 30 days since application submission.
Are lenders excepting more deed in lieus these days? WHat can I expect if approved or not approved? How much will this hurt my credit if I have no late payments? Any advice is appreciated thanks
I want to move home before October but am not going to be able to pay for a mortgage in FL and rent up North. I want to do the best of the worst things for my credit but at this point I am about ready to do anything. My lender Aurora Loan Services says it will have an answer for me on Sept 15 which will have been 30 days since application submission.
Are lenders excepting more deed in lieus these days? WHat can I expect if approved or not approved? How much will this hurt my credit if I have no late payments? Any advice is appreciated thanks
Welcome matty,
I do understand it's a tough situation for you given that your family is going through health crisis. It seems like you have applied for deed in lieu. The lender would probably review your situation and based on his policies and your financial situation, he'll either agree or suggest an alternative. It's very tough to say whether or not you'll be approved because the lender is going to analyze the whole stuff in his perspective.
I do understand it's a tough situation for you given that your family is going through health crisis. It seems like you have applied for deed in lieu. The lender would probably review your situation and based on his policies and your financial situation, he'll either agree or suggest an alternative. It's very tough to say whether or not you'll be approved because the lender is going to analyze the whole stuff in his perspective.