Posted on: 27th Feb, 2009 09:07 am
:?: i just refinanse my house, try cover all credit cards and second mortgage. riht now house cost for me much more. my husband almost loose his job. if i planning do short sale i need pay back to mortgage some for credit cards? how long i can't make short sell after refinansing. i have fha loan.
thank you
thank you
Hi angelfly,
You will have to write a hardship letter to the lender and apply for a short sale. If the lender is convinced by your hardship letter, he will accept the short sale request. But it will definitely take some time in order to complete the short sale procedure. A short sale procedure may take 90 days to complete.
Thanks
You will have to write a hardship letter to the lender and apply for a short sale. If the lender is convinced by your hardship letter, he will accept the short sale request. But it will definitely take some time in order to complete the short sale procedure. A short sale procedure may take 90 days to complete.
Thanks
there's more to it than that.
angelfly you are going to have to speak with a realtor (and perhaps an appraiser) to determine the value of your home currently. that will give you a basis for making the hardship claim that selling won't allow you to pay the mortgage in full.
angelfly you are going to have to speak with a realtor (and perhaps an appraiser) to determine the value of your home currently. that will give you a basis for making the hardship claim that selling won't allow you to pay the mortgage in full.
