sent countrywide packet for short sale was denied now what?

Posted by Carie on June 30, 2007 at 22:14:07:

I called countrywide a year ago saying we are having financial problems. We asked for a different loan, they said no we do not quailfy. So, We put the house on the market a year ago. It is still on the market now. This is a second property with renters paying 1,000 but our loan with T&I is 2,500. So I talked to someone in the short sale department. Evryone I spoke to said something a little different. Anyways I sent the packet via fax e-mail and it was recieved. I got a letter saying we do not qualify. We are up to date on the payments and have been charging everything for over a year with credit cards at 22k. I think that I am going to stop paying the loan starting the 1st. Our 2nd home that we live in is Countrywide also. So questions.......... Do I still pay the taxes? What will happen next? What is the best thing to do? Can they come after us? Will they?? any suggestions??? Thanks Much

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