Loans, Debt & Credit - View Single Post - Considering Short-Sale or Foreclosure in Florida

Marshall Rosenbach Esq. · 06-03-2009, 06:14 AM

RMT23 - have you even tried a loan modification yet? If not, try! See what happens. Ask for a 2% rate. If that fails, when you do a short sale, if you can get the lender to agree to "Waive the deficiency" and to agree that the payment in the short sale satisfies the entire debt evidenced by the note, not just the mortgage, you won't have to worry about them taking your car....do you understand?

Fandelem - if you have experienced a hardship recently, which many people have, I think you should try for a modification even if you are struggling yet paying your monthly mortgage payment. Many people feel that if they are current, there is no solution for them. That is not the case.

06-03-2009, 06:14 AM	#3 (permalink)
Marshall Rosenbach Esq. Real Estate & Mortgage Law Attorney Join Date: Jan 2008 Posts: 88 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Considering Short-Sale or Foreclosure in Florida RMT23 - have you even tried a loan modification yet? If not, try! See what happens. Ask for a 2% rate. If that fails, when you do a short sale, if you can get the lender to agree to "Waive the deficiency" and to agree that the payment in the short sale satisfies the entire debt evidenced by the note, not just the mortgage, you won't have to worry about them taking your car....do you understand? Fandelem - if you have experienced a hardship recently, which many people have, I think you should try for a modification even if you are struggling yet paying your monthly mortgage payment. Many people feel that if they are current, there is no solution for them. That is not the case. __________________ Law Offices of Marshall E. Rosenbach Please call me anytime at (561) 627-8990 www.FloridaLoanLaw.com 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. 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. Licensed to practice law in the states of California & Florida.