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

12345 · 10-03-2008, 08:00 AM

i was in the modification process (black hole) but found out this week i had to take a 50% wage cut and was recently informed that my job could be finished as soon as dec 1. i have first with litton and second with ASC. i found a realtor who said he'd help me with a short sale. i won;t be making the payments since a months worth of paychecks will not cover the mortgage payements.. is a short sale possible or will they foreclose?

10-03-2008, 08:00 AM	#3 (permalink)
12345 Senior Member Join Date: Oct 2007 Location: MN Posts: 70 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? i was in the modification process (black hole) but found out this week i had to take a 50% wage cut and was recently informed that my job could be finished as soon as dec 1. i have first with litton and second with ASC. i found a realtor who said he'd help me with a short sale. i won;t be making the payments since a months worth of paychecks will not cover the mortgage payements.. is a short sale possible or will they foreclose? __________________