Re: Dont know what to do? Short Sale
Posted by steele in minnesota on June 25, 2007 at 09:40:25:
In Reply to: Re: Dont know what to do? Short Sale
Posted by Cyndie on June 24, 2007 at 18:46:59:
Banks will not really even consider a shortsale until there are payments missed. Probably 2-3 and the foreclosure process beginning. Short sales are only for those truly in trouble and financial hardship. So while it seems a bit silly to wait so long to discuss it, that is the way it is.
As to both loans being with the same lender, yes, that is usually better.
While the shortsale discussion may be premature right now it would not hurt to open a dialog and let the bank know your situation. I would start the conversation now. At least you are "on the record". And they may have some additional options for you.
Steele
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- Re: Dont know what to do? Short Sale - janette luera 22:46:06 07/05/07
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