blue123456789
Feb 27, 2008, 12:13 PM
I have been trying to sell my home, but now understand that it is worth less than I owe on it. I cannot make the monthly payments and the bank doesn't seem to be willing to help... I have ask.
If the home goes into foreslosure, we walk away after 4-5 months and the home is eventually sold for less than we owe... what are the chances of the lender filing suit for the difference between the price we owe and what it is finally sold for?
Also, if I stop making payments for 2-3 months... might the bank then be willing to work on a "short sale"?
Thanks for your help.
If the home goes into foreslosure, we walk away after 4-5 months and the home is eventually sold for less than we owe... what are the chances of the lender filing suit for the difference between the price we owe and what it is finally sold for?
Also, if I stop making payments for 2-3 months... might the bank then be willing to work on a "short sale"?
Thanks for your help.