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A Few Downfalls of Short Sales

Posted by Matthew T. Desrochers | Mar 21, 2017 | 0 Comments

1. Your credit score will drop. Since you must be at least 90 days late in your mortgage payments your score will drop around 140 points.
2. If your bank decides to, it can choose to sue you for the difference from the short sale and what you owe.
3. The bank gets the final approval on the sale and it can take them a VERY long time. Many times it's so long that the potential buyer doesn't wait out the whole process.

If you would like to learn more and/or receive assistance with foreclosure, Mortgage Audit, loan modificationbankruptcy or debt settlement, please contact us at (781) 315-4566.

About the Author

Matthew T. Desrochers

Mr. Desrochers is the managing attorney at the office that was founded in 1999.  Matthew helps homeowners avoid foreclosure and get out of debt.  This work consist of Loan Modification, Short Sales, Chapter 13 and Chapter 7 bankrcupty cases, including mortgage settlement and IRS Offers in Comprom...

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