Posted on: 07th Sep, 2009 04:16 pm
we need to short sale so we can move to the school district our children go to school. should i stop making my payments so they may approve my short sale, we can afford our payment but need to move. is a foreclosure deed in lieu a better option for us. we have to move what is my best option. i live in Arizona so deficiencys are not an issue.
Welcome buffetaz,
The lender may consider it a fraudulent act if you stop payments though you can afford to pay. As it has become important for you to move to the school district, inform the lender about it. If the lender is convinced, he can consider your short sale request though you are not delinquent on your mortgage payments. In my opinion, it won't be a good option to deliberately get delinquent on your mortgage payments.
The lender may consider it a fraudulent act if you stop payments though you can afford to pay. As it has become important for you to move to the school district, inform the lender about it. If the lender is convinced, he can consider your short sale request though you are not delinquent on your mortgage payments. In my opinion, it won't be a good option to deliberately get delinquent on your mortgage payments.
who takes care of the closing costs on a short sale? if i have to short sale i do not want to take care of the closing costs is this done by the lender or the person purchasing the house?
Hi wlan,
As far as I know, the short sale lender will cover most of the closing costs on behalf of the borrowers. Also, he will cover the real estate agent's commissions.
Thanks
As far as I know, the short sale lender will cover most of the closing costs on behalf of the borrowers. Also, he will cover the real estate agent's commissions.
Thanks