Foreclosure in 20744>Question Details

Ray, Home Owner in 20744

On short sale can you stop paying the mtg or do you still have to?

Asked by Ray, 20744 Wed Jul 18, 2012

Would like to do a short sale and move to another state where we could afford
to live on my pension. Dont know what we going to do. But in order to be able to move I would have to save, too far behind on bills to make a dent or be able to save without stopping mtg payments and even with that is still going
to be hard.

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4
I have information on my website concerning the very question you are asking. If you are looking to do a Short Sale....interview several agents and ask them of their success rate in a completed Short Sale. I invite you to visit my website since we specialize in the sales of Short Sale properties.
0 votes Thank Flag Link Wed Jul 18, 2012
Hi Ray,

For legal reasons I will refrain from answering this question. However, I suggest that you have a full consultation with an attorney, tax professional that understands short sales, & Realtor that specializes in short sales. It is very important that you know your options.

Visit http://www.athomewithtyra.com and select "Short Sales" on the left hand side. There you will
find frequently asked questions about short sales.

If you would like to set up a no obligation consultation, we'd be happy to schedule your appointment.
There are many things that will help to determine if you qualify for a short sale and if it is the best option for you.

We wish you the best.

Tyra

Tyra N. General

IMPORTANT NOTICE:
Tyra General & Associates of Keller Williams Preferred Properties is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
0 votes Thank Flag Link Wed Jul 18, 2012
I would suggest a conversation with an attorney or other legal advisor, such as HOPEMD. They can give you an honest, legal opinion that you can follow. As an Agent, I've seen families follow both the "Continue to Pay" option and the "Stop Paying" Option, but it would be improper for any Realtor to suggest either course of action.

If you would like to meet and discuss my own depth of experiences with Short Sales (In reality, each Lender is different and there isn't really a "One Size Fits All" solution), I'd be happy to meet with you on a no-cost basis and discuss your specific situation.

Hope you find the success you seek...

Phil
0 votes Thank Flag Link Wed Jul 18, 2012
A lot of people do stop making their payments to do a short sale. I would talk to a real estate attorney that does short sales or a local real estate agent and go over everything with them.
0 votes Thank Flag Link Wed Jul 18, 2012
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