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Posted by HousesPlus.com on September 13, 2003 at 12:51:55:
In Reply to: Divorcing in OR--short sale failed, spouse pushing bnkruptcy posted by Kauri on August 30, 2003 at 19:32:31:
Who is not agreeing to the short sale - which loan? The only reason I see that no one would budge is because you're not behind on payments. A short sale is extremely difficult if not impossible when you're not late - the lenders have no reason or motivation to accept less than what is owed. I hate to even suggest this, but it would be much, much easier on your credit to let the mortgage payments go a couple months than to file bankruptcy. Once you've got a couple months behind, the lenders will be willing to negotiate. It's a lot easier to recover from a couple late payments on your credit than a bankruptcy or foreclosure.
Especially with 3 mortgages, you should be in a good position to short sale if they see where things are headed - to foreclosure!
I don't know what else to tell you... good luck!
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