Financing in 50266>Question Details

Mike, Both Buyer and Seller in West Des Moines, IA

Short sale with payment plan for balance

Asked by Mike, West Des Moines, IA Wed Apr 15, 2009

We owe $116,000 on our townhome, and a recent townhome sold for $110,000 in our complex. We have a new home we'd like to buy and are approved, however we don't have the cash to pay on selling/making up the mortgage balance. Would a short sale with a payment plan for the remaining balance affect my credit score, or ability to buy the new home?

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