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Short Sale Problem |
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I am currently in the midst of a short sale. We had a great offer that was approximately .85 on the dollar. Unfortunately, lender did nothing for the first 60 days and the buyer pulled out, as did our back up buyer. We then were able to secure a new buyer for a lower price, about .75 on the dollar. The negotiator is never reachable - she takes messages only. We now feel we should stop making the monthly payments as the only short sales they are completing are those for loans in default. Our credit scores are 800 so I hate to throw those on the chopping block but we are at a loss as what to do. We leave messages as does our agent. The lender is unfortunately WaMu. |
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I'm afraid all I can offer you is sympathy. The only consulation I can think of is that with so many foreclosures and other workouts these days, lenders may change their standards, when all this is over years from now. At that point perhaps the damage to your credit record won't look as bad as it might have in more prosperous times. |
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Edith
Originally published on October 6, 2008 |
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