Loans, Debt & Credit - View Single Post - What information will the bank need to decide whether to accept a short sale?

miked2023 · 06-02-2009, 11:01 PM

I'm with CW, and our income is down significantly (about 33%) but we could still technically afford the house by their standards I'm sure (if we want to be broke for the next ten years). We just went 30 days late and don't plan on making any more payments. Is there a chance they will approve our short-sale? The house is inderwater around 100K.

06-02-2009, 11:01 PM	#14 (permalink)
miked2023 Senior Member Join Date: Mar 2009 Posts: 61 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'm with CW, and our income is down significantly (about 33%) but we could still technically afford the house by their standards I'm sure (if we want to be broke for the next ten years). We just went 30 days late and don't plan on making any more payments. Is there a chance they will approve our short-sale? The house is inderwater around 100K.