Posted on: 14th Oct, 2009 08:24 pm
Can you still attempt a short sale even though your second lender has done a charge off?
hi bmw4her,
i believe it is quite possible to do a short sale on the property, even though the second mortgage has been charged off. however, you will have to get the approval of the new mortgage company or the collection agency to whom the second mortgage has been charged off.
i believe it is quite possible to do a short sale on the property, even though the second mortgage has been charged off. however, you will have to get the approval of the new mortgage company or the collection agency to whom the second mortgage has been charged off.
Thanks so much for the helpful info. What are the chances of the second coming after me for the charged off amount?
That may be possible, but it is difficult to get a short sale approval when you are current on the payment, it may be really a diffcult task when the loan is charged off
Even I doubt to certain extend that it is possible
Even I doubt to certain extend that it is possible