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

shaung · 06-24-2009, 07:49 PM

I am in the same situation.Bought a house for 430k with 80/20.The fixed rate it up in Oct of this year and tired of paying $2700 a month for less than 800 sq ft.I am considering a Short Sale.I am current and want to learn everything about the process so theres no suprises at the end.My wife and I have about $25k in credit card/unsecure debt and it seams crazy that we are choking ourselfs every month for a over priced shoe box.My home is about $150k in neg. equity and it would be crazy to pay that.Anyone have any links to learn more about short sales here in California?Thanks

06-24-2009, 07:49 PM	#17 (permalink)
shaung Senior Member Join Date: Dec 2008 Posts: 41 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Should I keep paying? Want to do a short sale. I am in the same situation.Bought a house for 430k with 80/20.The fixed rate it up in Oct of this year and tired of paying $2700 a month for less than 800 sq ft.I am considering a Short Sale.I am current and want to learn everything about the process so theres no suprises at the end.My wife and I have about $25k in credit card/unsecure debt and it seams crazy that we are choking ourselfs every month for a over priced shoe box.My home is about $150k in neg. equity and it would be crazy to pay that.Anyone have any links to learn more about short sales here in California?Thanks