April 25th, 2009

Would a bank consider a short sale if you have to move due to family health issues?

Chelle B asked:


Mortgage is current, home is in good shape but we would never get what we owe.

This entry was posted on Saturday, April 25th, 2009 at 5:31 pm and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

3 Responses to “Would a bank consider a short sale if you have to move due to family health issues?”

  1. acermill Says:
    April 29th, 2009 at 1:31 am

    Probably not. Banks would require some sort of evidence of your inability to pay your mortgage, which it appears you can handle. Of course, if you cease mortgage payments, then you will qualify for a foreclosure.

  2. Bubbles Says:
    May 1st, 2009 at 11:47 am

    No, banks do not give two craps about people…..
    Could you rent it until the market turns around?

  3. Tekla Says:
    May 2nd, 2009 at 5:07 pm

    To be in short sale, your loan must be in default and you demonstrate hardship as to why you are in default.