Posted on: 29th May, 2010 09:05 am
I'm considering a short sale without recourse, I bought for $310,000 and the house is now worth $150,000. I already got a loan modification, but the principle remains the same. I'm no longer interested in keeping this house.
Firstly, do I talk with my lender, a lawyer or a realtor?
Firstly, do I talk with my lender, a lawyer or a realtor?
Welcome curlis,
As you want a short sale in order to get rid of the property, I would suggest you to contact your lender and apply for the same. The lender will take a look at your financial situation and let you know whether or not he will accept your request. Lenders generally accept short sale when you've defaulted on your mortgage payments.
As you want a short sale in order to get rid of the property, I would suggest you to contact your lender and apply for the same. The lender will take a look at your financial situation and let you know whether or not he will accept your request. Lenders generally accept short sale when you've defaulted on your mortgage payments.