My House On Market For Sale Under ” Short Sale” Since May 08 But It Is Not Got Buyer Yet, It Is Totally 7 Mont?
Feb.26, 2010 in
mont tremblant
months and my realtor told me that he can called lender for extending for more times, what do you think the lender can extend more time or take back my house into foreclosure? and what can I do for that ? or call lender do my loan mod? walk away? deed in lieu?
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February 26th, 2010 at 5:21 am
You are facing an ugly situation. The best approach is to contact the lender for a further extension, as well as asking that they consider a lower acceptance price. After seven months, it is apparent that you won’t get a buyer at your asking price.
If the lender refuses to lower the price they will accept, then your option is mostly foreclosure, UNLESS you can convince them that some sort of loan modification makes more sense.
Good luck.
February 26th, 2010 at 6:01 am
You don’t provide any specific information. How much do you owe? What is the current market value? Are you in arrears on payments?