Posted by Lee on July 14, 2009 at 01:00:34:

In Reply to: Re: Need information posted by Melissa Martin on July 07, 2009 at 18:04:49:

Some bank will require you to come up with the cash to pay off your loan. Seems like they want you to sign a promise note that you'll pay the reminding balance. You need a experienced realtor to help you convince the bank that you dont have the resource to pay them. If you do have the asset, then you are pretty much screwed. In order to do a short sale, the bank need to approve your "hardship." They will not just let anyone do a short sale just because they dont want to pay the bills anymore. Talk to an experienced Realtor in your area.

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