Posted on: 10th Oct, 2008 11:21 pm
i wasnt able to pay my mortgage for 2 mos aug. and sept. until end of sept. i did call them and pay my mortgage with the late fee.now its oct. and im due every ist day of the month. i wont be able to pay for my mortgage again. i talked to my lender last sept. 25 and i might qualify for a loan modification i need to wait approx. 3o days they would send me a letter.my mortgage is way too high.were planning to relocate do we need to look for a realtor now and consider short sale?
Hi Guest!
Welcome to Forums!
Try renting your house first. You can then pay off the mortgage with the money you get from the rent. If you do not want yo rent, you can speak to the mortgage lender about a short sale. A short sale will require the lender's approval.
Feel free to ask if you have further queries.
Sussane
Welcome to Forums!
Try renting your house first. You can then pay off the mortgage with the money you get from the rent. If you do not want yo rent, you can speak to the mortgage lender about a short sale. A short sale will require the lender's approval.
Feel free to ask if you have further queries.
Sussane
Hi Guest!
A loan modification may charge you much more that what you pay. You can either go for a short sale or a deed-in-lieu. Both of these are good options and the negative impact on your credit score will also be less.
Thanks,
Jerry
A loan modification may charge you much more that what you pay. You can either go for a short sale or a deed-in-lieu. Both of these are good options and the negative impact on your credit score will also be less.
Thanks,
Jerry
Hi Guest,
Since you wish to relocate, it's no use going for a loan modification. You may look for a realtor who can assist you with the home sale process. What I'd like to know is, how's the housing market in your area? I mean aren't homes selling at their usually price? I'm saying this because you mentioned about a short sale. However, in which state do you reside?
Since you wish to relocate, it's no use going for a loan modification. You may look for a realtor who can assist you with the home sale process. What I'd like to know is, how's the housing market in your area? I mean aren't homes selling at their usually price? I'm saying this because you mentioned about a short sale. However, in which state do you reside?
