Loan Modification Forum - LoanSafe.org - View Single Post - What information will the bank need to decide whether to accept a short sale?

CMA1969 · 09-30-2009, 04:38 PM

As of next month, I will not be paying. i have tried for 8 months to get CW, now BofA to work with me. Told by a friend's Uncle who works in the restructure/mod dept after looking at my loan (80/20), he doesnt see BofA ever working with me. I have decided to just walk away but, as a last ditch effort, am meeting with an agent next week who specializes in short sales. What has been the success of people getting a short sale approved with a 30 year ARM, value down 85K, not delinquent? Any input on this situation would be GREATLY appreciated. Thank you much!

09-30-2009, 04:38 PM	#16 (permalink)
CMA1969 Junior Member Join Date: Jul 2009 Posts: 2 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: What information will the bank need to decide whether to accept a short sale? As of next month, I will not be paying. i have tried for 8 months to get CW, now BofA to work with me. Told by a friend's Uncle who works in the restructure/mod dept after looking at my loan (80/20), he doesnt see BofA ever working with me. I have decided to just walk away but, as a last ditch effort, am meeting with an agent next week who specializes in short sales. What has been the success of people getting a short sale approved with a 30 year ARM, value down 85K, not delinquent? Any input on this situation would be GREATLY appreciated. Thank you much!