Posted by dutch on March 29, 2006 at 22:13:26:
The lender won’t short the note unless they are looking at foreclosing. So, to make a short sale work, you will have to quit making the payments and ruin your credit. Then an investor can come in and get your property, you get nothing, except bad credit.
Still sound like a good deal?
Dutch
Oklahoma
kcmo short sale expert needed - Posted by pamnar
Posted by pamnar on March 29, 2006 at 20:51:01:
We have a duplex that we want to get rid of. I think it would be a good candidate for a short sale. We’re not behind in payments or taxes. But, we are out-of-state owners and this property has been a problem for us. We owe 60k, but the place needs a lot of work which would work in favor of a short sale.
Anyone interested? We want to get this going asap!!
Re: kcmo short sale expert needed - Posted by John
Posted by John on March 30, 2006 at 07:33:22:
Why not just sell? You can find a buyer, if the price is right. Even selling and bringing cash to the table is better than trashing your credit and the paying taxes on the payoff discount. Just my $.02