Posted on: 02nd Apr, 2011 10:59 pm
I have my first mortgage and second(HELOC) thru CAHSE. I'm planning to short sale my condo instead of walking away and letting it foreclose. If Chase agree to a short sale, will that agreement include both 1st and my HELOC?
hi fforyou,
there are chances that the first mortgage will be included in your short sale whereas the lender will charge off the second mortgage. however, after the short sale, you will be liable for paying off the deficient balance resulting from the short sale of the property.
thanks
there are chances that the first mortgage will be included in your short sale whereas the lender will charge off the second mortgage. however, after the short sale, you will be liable for paying off the deficient balance resulting from the short sale of the property.
thanks