Loans, Debt & Credit - View Single Post - To walk or not to walk-in AZ

Optimistic1 · 02-09-2009, 09:05 PM

Newbie, also, here. I live in Mesa, AZ in a home that we purchased in 2005 for $350k, now listed at $199k to get offers for a last-ditch effort short sale. We exhausted everything to make our lofty payment and in July, decided to stop the madness. Living on credit is not the answer. This has been quite a process as I speak with the lender (Wells Fargo) and their inept staff at least 3 times a week. Our Trustee's Sale date is March 18th, but WF said they are offering us a Moratorium to show them we can increase our income (which we will not be able to do) by May 27th. We have a VA loan, so I'm thinking it will take a miracle to get a short sale concluded by May 27th, but we'll see. Anyone know about short sales and the VA? How about how long it takes after the Trustee's sale to be evicted? Thanks for any help. I'm thankful I've found you, here.

02-09-2009, 09:05 PM	#10 (permalink)
Optimistic1 Junior Member Join Date: Jan 2009 Posts: 1 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: To walk or not to walk-in AZ Newbie, also, here. I live in Mesa, AZ in a home that we purchased in 2005 for $350k, now listed at $199k to get offers for a last-ditch effort short sale. We exhausted everything to make our lofty payment and in July, decided to stop the madness. Living on credit is not the answer. This has been quite a process as I speak with the lender (Wells Fargo) and their inept staff at least 3 times a week. Our Trustee's Sale date is March 18th, but WF said they are offering us a Moratorium to show them we can increase our income (which we will not be able to do) by May 27th. We have a VA loan, so I'm thinking it will take a miracle to get a short sale concluded by May 27th, but we'll see. Anyone know about short sales and the VA? How about how long it takes after the Trustee's sale to be evicted? Thanks for any help. I'm thankful I've found you, here.