Posted on: 19th Jun, 2010 02:58 pm
we have a manufactured home which sit in a mobile home park, we have tried to sell it for 2 years. But with our space rent at over 800 months we can't.
Can we short sale it?
Can we short sale it?
Welcome faith,
You can apply for a short sale with your lender. If you are delinquent on your mortgage payments, then the lender may be ready to short sale your property. However, after a short sale, you would be liable for paying off the deficient balance resulting from the sale of the property. Moreover, a short sale will reduce your credit score by 80-100 points.
You can apply for a short sale with your lender. If you are delinquent on your mortgage payments, then the lender may be ready to short sale your property. However, after a short sale, you would be liable for paying off the deficient balance resulting from the sale of the property. Moreover, a short sale will reduce your credit score by 80-100 points.