Loans, Debt & Credit - View Single Post - Should I still make payment if I'm planning on short selling?

cinman · 08-19-2009, 07:08 PM

Couple of things - what was the cash out used for? Have you looked into filing insolvency instead of the mortgage forgiveness act qualifications?

Notice Of Default is the start of the foreclosure proceedings (the steps). The timing of the steps varies from lender to lender and state to state. Yes, the foreclosure moves forward until they approved the short sale...offers won't stop it - they need to approve it. Then once approved they normally give you 30 days to close. Make sure that all fits into your schedule.

The Agent Center

I'm assuming you meant your relocating March of 2010 in your post...not 2009.

08-19-2009, 07:08 PM	#2 (permalink)
cinman Junior Member Join Date: Aug 2009 Posts: 2 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Should I still make payment if I'm planning on short selling? Couple of things - what was the cash out used for? Have you looked into filing insolvency instead of the mortgage forgiveness act qualifications? Notice Of Default is the start of the foreclosure proceedings (the steps). The timing of the steps varies from lender to lender and state to state. Yes, the foreclosure moves forward until they approved the short sale...offers won't stop it - they need to approve it. Then once approved they normally give you 30 days to close. Make sure that all fits into your schedule. The Agent Center I'm assuming you meant your relocating March of 2010 in your post...not 2009.