If you don't send the entire payment in full, it will not be applied to the principal balance until all the penalties and interest are paid in full. It is very difficult to get caught up and actually pay anything on the principal in this type situation.
I suggest you get in touch with a Realtor that has lots of experience with short sales and loan modifications and talk over your options before you get further behind. If you are in the Round Rock area, I can meet with you and give you a lot of information so you can decide what you will need to do in this tough situation.;
No obligation, just information.
Pam Jernigan, Realtor
short sale specialist
512-635-7592
Mail to: ladybug@kw.com - Tue Dec 1 2009, 21:26
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