Posted on: 10th Nov, 2010 03:41 pm
Hello
We really don't know what we're doing here please help us!! Just as reference we did buy at 1,200,000 and the property is short selling at only 550,000.00 ,I lost my job, my husband too and it's been a very dramatic situation for the last 2 years. Buyer is been waiting to buy our house for almost 1 year but Citibank the second lien holder want us to sign a promissory note for $59,405.00 to be pay in 180 months!!! Otherwise they will not release the lien for the short sale to happen!! What should we do?? We lost our 20% down payment and that for sure is more than what Citibak's note was for!!!
PLease give me suggestion here, I really appreciate any comments!!!
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We really don't know what we're doing here please help us!! Just as reference we did buy at 1,200,000 and the property is short selling at only 550,000.00 ,I lost my job, my husband too and it's been a very dramatic situation for the last 2 years. Buyer is been waiting to buy our house for almost 1 year but Citibank the second lien holder want us to sign a promissory note for $59,405.00 to be pay in 180 months!!! Otherwise they will not release the lien for the short sale to happen!! What should we do?? We lost our 20% down payment and that for sure is more than what Citibak's note was for!!!
PLease give me suggestion here, I really appreciate any comments!!!
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hi annie!
welcome to forums!
the second mortgage lenders wants to recover his dues. unless you sign the agreement and pay the lender, he won't agree to it. you should contact your lender and sign the documents in order to go ahead with short sale.
feel free to ask if you've further queries.
sussane
welcome to forums!
the second mortgage lenders wants to recover his dues. unless you sign the agreement and pay the lender, he won't agree to it. you should contact your lender and sign the documents in order to go ahead with short sale.
feel free to ask if you've further queries.
sussane