Selling Via Short Sale? DON'T Stop Paying Your Mortgage!

By
Real Estate Broker with Kathleen Cooper, Best Option-EXIT Realty Partners, REALTOR® 9084437/Brokers

Selling Via Short Sale? DON'T Stop Paying Your Mortgage! 

To pay or not to pay, that is the question!  If you are looking to sell your home using the short sale process, DO NOT stop paying your mortgage.  I've heard mixed answers to this question from all kinds of real estate professionals, but the highly professional Attorney Scott Wrenn advised us in a seminar this week to encourage our clients to keep paying for as long as financially possible.  

It is common sense - if you stop paying your mortgage and fall into default, your lender is going to start the foreclosure proceedings.  If this becomes the case and you do not find a buyer for your short sale soon enough, you are going to lose your house out from under you.  Continuing to pay the mortgage and maintain the upkeep in the property will ensure a much more successful attempt at selling your home via short sale and saving some of your credit for the future.  

If you or someone you know is looking to avoid foreclosure we can help!  The JCKC Team partnered up with Attorney Scott Wrenn can guide you through the short sale process at ease.  It's not always a short process, but you can rest easily that it will be a comfortable process with us by your side.  Call me at 508-523-8632 for more information.  Every meeting is confidential and we can just discuss your options.  

Looking forward to hearing from you! 

close

Re-Bloggged 1 time:

Re-Blogged By Re-Blogged At
  1. Keith Pentz 09/24/2010 10:50 PM
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the folder to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
ActiveRain Community
Location:
Massachusetts
Groups:
Addicted to Active Rain
Keller Williams 'Rainers
LATE NIGHT - EARLY MORNING AT ACTIVERAIN
The Lounge at Active Rain
Tags:
short sales
short sale advice
how to do a short sale
keep paying your mortgage on a short sale

Comments 9 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the woman to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
52,249
Keith Pentz
Keith Pentz
RE/MAX ADVANTAGE 1

Great post Kathleen!  Cutting down on the "just made it" transactions would be huge in the industry!  Nothing more stressful than trying to cram in a 20 day closing on a property that is going to foreclose if we don't get it done...If Attorney Scott Wrenn said it then that's the way it is!

September 23, 2010 10:30 PM
Rainmaker
354,105
Kathleen Cooper
EXIT Realty Partners - Broker, REALTOR®
Kathleen Cooper, Best Option-EXIT Realty Partners, REALTOR®

Thanks Keith! Scott's the man!  =)

September 23, 2010 10:41 PM
Rainmaker
1,578,966
Lou Ludwig
CRB, CRS, CIPS, GRI, SRES, TRC, e-PRO
Ludwig & Associates

Kathleen

Outstanding post I feel the seller should continue to make the mortgage payments.

Good luck and success.

Lou Ludwig

September 23, 2010 11:02 PM
Rainer
239,935
Michele Miller ~ REALTOR®, LMC, HSE, CHS
"Your Full Service Professionals"
Keller Williams Greater Worcester

Kathleen,

That was a great class! Lots of great information for sure.

Definitely will use Scott in the future.

 

September 24, 2010 04:19 AM
Anonymous #10
Anonymous
Helpcom

Great Advice, you should keep paying your mortgage unless you are planning not to stay there long.  Has anyone heard of a mortgage relief program called: Equity Triad?

September 24, 2010 11:50 AM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the graph to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
354,105

Kathleen Cooper

EXIT Realty Partners - Broker, REALTOR®
What's My Home Worth?
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tshirt to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: