Re: Short sale taking too long

Posted by chris on July 10, 2008 at 05:56:46:

In Reply to: Re: Short sale taking too long posted by KB on July 08, 2008 at 13:59:56:

I just went through this whole mess with Chase as the primary and Countrywide as the secondary. Chase absolutely refused to short, and with our situation, Countrywide would have received a 10k payoff on a 29k balance. Countrywide repeatedly gave us the run around, meanwhile we had 4 offers on the house. After a year and a half, Chase finally said enough is enough and foreclosed on us.

The point is....these short sales are a waste of time for all parties involved. Honestly, I have not heard of a single one being approved.....and I know many people in the same boat that we were.

Start preparing for the future. Go ahead and get a rental lined up and save the money you were spending on the house payments. If your credit is still good...trade your old cars in for new ones with 0% financing right now, before your credit is shot.

Trust me, pursuing the short sale is a big waste of time. Foreclosure is inevitable.

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