Loan Modification Forum - LoanSafe.org - View Single Post - Should I keep paying? Want to do a short sale.

miked2023 · 05-09-2009, 01:03 PM

Hi there.

So, I'm 20 days late right now on my Countrywide/BOA Southern California home. It's upside down, needs work, an my wife makes 10% of what she used to.

We want to do a short sale as we will only be able to keep current for a few more months due to much lower income levels. So my question is...

Should I pay my mortgage this month? I have another week before I'm 30 days late but I'm not sure if CW will accept the idea of a short sale if I'm current. Anyone have experience with this? I just don't know what to do because I could use that money for others debts if if CW is just going to say no I'm current.

Again, I can only afford a few more payments so if this is gonna drag out six months, I might as well stop paying now, yes? At least then I can wipe out other debts and start over when this dust settles.

But, if there's any way I could pull off a short sale while staying current, I'd put the mortgage on a credit card if I had to. I want to do the right thing.

Thanks in advance.

05-09-2009, 01:03 PM	#1 (permalink)
miked2023 Senior Member Join Date: Mar 2009 Posts: 48 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Should I keep paying? Want to do a short sale. Hi there. So, I'm 20 days late right now on my Countrywide/BOA Southern California home. It's upside down, needs work, an my wife makes 10% of what she used to. We want to do a short sale as we will only be able to keep current for a few more months due to much lower income levels. So my question is... Should I pay my mortgage this month? I have another week before I'm 30 days late but I'm not sure if CW will accept the idea of a short sale if I'm current. Anyone have experience with this? I just don't know what to do because I could use that money for others debts if if CW is just going to say no I'm current. Again, I can only afford a few more payments so if this is gonna drag out six months, I might as well stop paying now, yes? At least then I can wipe out other debts and start over when this dust settles. But, if there's any way I could pull off a short sale while staying current, I'd put the mortgage on a credit card if I had to. I want to do the right thing. Thanks in advance.