Foreclosure in 36527>Question Details

Mike92599, Other/Just Looking in Mobile, AL

Can mortage co demand payment for short sale? Fannie Mae sent papers saying debt was cancelled?

Asked by Mike92599, Mobile, AL Fri Feb 12, 2010

Help the community by answering this question:


Hi Mike,

If costs are a factor for you then you can speak with a Hud Counselor who will assist you for free in your area. Here is a link. I wrote an e-book if you are interested in returning to home ownership after short sale and i will be happy to send you, provide me your email address and I will send over.

Good luck!

Hannah Fliegel
The Credit Repair Expert
1 vote Thank Flag Link Sat Feb 13, 2010
Get yourself a real estate attorney that can ascertain what is correct.
Web Reference:
1 vote Thank Flag Link Sat Feb 13, 2010
Not knowing all the facts and what actually has taken place--why not contact an attorney specializing in real estate and review all documentation regarding the short sale.
1 vote Thank Flag Link Fri Feb 12, 2010
More information is required to respond. However, in general a mortgage company can require a conditional payment be made as part of the short sale. Lots of time, this requirement comes from the primate mortgage company that is trying to mitigate their loss.

I am not sure if the debt cancelled document is from a chapter 7 discharge for this loan or another loan. However, if it is a discharge on this loan, you must reafirmed the debt to do the short sale and thus places the discharge in question.

If these answers do not answer your question,please clarification the question.

Keith Manson
First Weber Group
Certified Distressed Property Expert
Metro Milwaukee
0 votes Thank Flag Link Sat Feb 13, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer