Posted on: 19th Apr, 2010 07:50 am
Hi I am wondering what would happen if I missed a payment during the short sale that I am in? How would it affect my short sale and my credit score? Would it increase my chances of the bank trying to foreclose on my home? Also what happens if I pay some of the mortgage payment?
A short sale is going to impact your credit and going late and then doing a short sale will seriously impact your credit and make it hard for you to find financing after the process. If you are foreseeing not being able to make your full mortgage payment, then you should contact your lender as soon as possible and see what they can do to assist you. I hope this helps...