Posted on: 31st Oct, 2010 04:44 pm
I am 66 yrs old live on a very low fixed income of Soc. Sec. disability...I can not afford mortgage payments since my husband died. We did bankruptcy last Dec. I don't really care about my credit rating as it is already in the toilet! Live in Mo. do you know about how long it will take for either foreclosure or short sale cause me to be out of my home? I am two months deliquent in my payments now..the house and acreage has been on the market for a month now..but sales are very low in this area..thank you for your help
Hi wtgquick,
As you're two months delinquent on your mortgage payments, you should contact your lender and apply for a deed in lieu of foreclosure. This will not only help you in getting rid of the property but you won't be liable for paying the balance amount resulting from the sale of the property. It will take around 90 days to complete the procedure.
As you're two months delinquent on your mortgage payments, you should contact your lender and apply for a deed in lieu of foreclosure. This will not only help you in getting rid of the property but you won't be liable for paying the balance amount resulting from the sale of the property. It will take around 90 days to complete the procedure.