Posted on: 13th Apr, 2009 10:06 am
balance 70,000 hard to get 650 a month late on payments what do i do this is a rental
can you sell it? that would certainly be an acceptable alternative, and it would do better for you from a credit standpoint.
you can default and let the bank come foreclose, or you can negotiate a short sale or deed in lieu of foreclosure. but your credit standing will be better served with a sale of the home.
you can default and let the bank come foreclose, or you can negotiate a short sale or deed in lieu of foreclosure. but your credit standing will be better served with a sale of the home.
Hi east,
A sale would definitely be the best possible solution to the current situation. It will save you some valuable credit scores. But if a sale does not look like a possibility, you can go for a short sale or a deed in lieu. Both of which, however, will damage your credit to certain extent.
A sale would definitely be the best possible solution to the current situation. It will save you some valuable credit scores. But if a sale does not look like a possibility, you can go for a short sale or a deed in lieu. Both of which, however, will damage your credit to certain extent.
