Re: Ca-Foreclosure

Posted by E on October 26, 2007 at 01:00:51:

In Reply to: Ca-Foreclosure posted by ele on October 23, 2007 at 09:40:21:

It sounds like you are trying to work out a shortsale with the hardship letter. If you pay them the $6000.00 will that bring you cureent? If it does you will not be able to do a short sale until you are behind in payments again. You might want to speak with the loss mitigation dept. If you are not able to keep the home you might want to lease it out, depending on what your payments are. Maybe sell it Rent-To-Own to a tenant/buyer they can come up with $5000 to $10,000 down and sell it to them on a contract for a year or two and let them make your payments for you.
If all else fails short sale the property.

Hope that helps.

E.
REI Consultant
NRSWORKS

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