So as soon as the mortgage company does a short sale - it registers as a loss for them. It's in their best interest to keep people in their homes until it's strategically beneficial for them to take the loss.
I was told it could be two years before a short sale happens.
I bought a reliable used family vehicle - with cash. I had a loan on our old car which I agreed to continue to pay in order to keep the car. Since we got the new vehicle I decided to give the car back to the bank. The bank didn't want it. They gave me a lien release instead. So all of our three vehicles are paid for.
I did a bunch of research on vehicles - and found out I should be able to get between 1000.00 to 2500.00 for the car.
I'm also going to put the house on the market - for the full price of the mortgage plus any legal fees etc Chase would charge.
We are moving after the baby is born... And it's been brought to my attention that we could rent out the house...
Anyway - interesting turn of events.
Are any of you still on this forum?
I miss the community.
Scoob
Climbing Back into the Boat Navigating an Underwater Mortgage
#81
- Advanced Member
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- Group: Members
- Posts: 139
- Joined: 17-November 10
Posted 29 April 2012 - 09:18 PM
Promote to Article
#82
- Newbie
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- Group: Members
- Posts: 6
- Joined: 07-December 10
Posted 02 May 2012 - 04:01 PM
I check in occasionally but there aren't any new posts. So glad to hear your doing better. We went through some hard times in '08 but landed on our feet again. It gets to be a long, tough road. Just have to keep pluggin away and always remember the lessons learned.
Good Luck!
Good Luck!
Scoobie, on 29 April 2012 - 09:18 PM, said:
So as soon as the mortgage company does a short sale - it registers as a loss for them. It's in their best interest to keep people in their homes until it's strategically beneficial for them to take the loss.
I was told it could be two years before a short sale happens.
I bought a reliable used family vehicle - with cash. I had a loan on our old car which I agreed to continue to pay in order to keep the car. Since we got the new vehicle I decided to give the car back to the bank. The bank didn't want it. They gave me a lien release instead. So all of our three vehicles are paid for.
I did a bunch of research on vehicles - and found out I should be able to get between 1000.00 to 2500.00 for the car.
I'm also going to put the house on the market - for the full price of the mortgage plus any legal fees etc Chase would charge.
We are moving after the baby is born... And it's been brought to my attention that we could rent out the house...
Anyway - interesting turn of events.
Are any of you still on this forum?
I miss the community.
Scoob
I was told it could be two years before a short sale happens.
I bought a reliable used family vehicle - with cash. I had a loan on our old car which I agreed to continue to pay in order to keep the car. Since we got the new vehicle I decided to give the car back to the bank. The bank didn't want it. They gave me a lien release instead. So all of our three vehicles are paid for.
I did a bunch of research on vehicles - and found out I should be able to get between 1000.00 to 2500.00 for the car.
I'm also going to put the house on the market - for the full price of the mortgage plus any legal fees etc Chase would charge.
We are moving after the baby is born... And it's been brought to my attention that we could rent out the house...
Anyway - interesting turn of events.
Are any of you still on this forum?
I miss the community.
Scoob
