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Moe Bedard · 01-25-2009, 05:02 PM

Because you have two liens on the property you would need to ask the servicer if the investors on the loans will allow a short sale............a DIL wouldn't be an option as the first would not be able to take title to the property free and clear of all other liens as they would going through a foreclosure which would release the interest of the other liens.

Countrywide will normally require that the property be on the market for at least 60-90 days before considering a short sale........to get started on what is needed contact.........
Countrywide Short Sale Dept.
1-800-262-4218

With a short sale you would also be able to purchase again after just 2 yrs. if you wanted too.

01-25-2009, 05:02 PM	#12 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Getting Divorced Because you have two liens on the property you would need to ask the servicer if the investors on the loans will allow a short sale............a DIL wouldn't be an option as the first would not be able to take title to the property free and clear of all other liens as they would going through a foreclosure which would release the interest of the other liens. Countrywide will normally require that the property be on the market for at least 60-90 days before considering a short sale........to get started on what is needed contact......... Countrywide Short Sale Dept. 1-800-262-4218 With a short sale you would also be able to purchase again after just 2 yrs. if you wanted too. __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.