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  1. #1
    Join Date
    Jun 2005
    Location
    virginia
    Posts
    27

    Default Can I Negotiate A Short Sale Without Ruining My Credit

    I have a mortgage on a place I can't afford anymore, there is no equity in the property at the moment. I've been reading about short sales, would I be able to do this without ruining my credit? I have a perfect payment history right now, and a high credit score, but I don't feel I can hold out much longer. Do you have any other suggestions?
    Thanks

  2. #2
    Join Date
    Jul 2006
    Location
    Ohio
    Posts
    1,126

    Default Re: Can I negotiate a short sale without ruining credit?

    No. In order to get to that stage, you must miss some mortgage payments.

  3. #3
    Join Date
    Aug 2007
    Posts
    5

    Default Re: Can I Negotiate A Short Sale Without Ruining My Credit

    Perhaps you could negotiate a deed in lieu of forclosure (simply pu, you could give the property back to the mortgage company without penalty to you); you must speak with your Mortgage Foreclosure department about this option. tell them you simply cannot afford payments anymore and you want to avoid foreclosure.

  4. #4
    Join Date
    Jul 2006
    Location
    Ohio
    Posts
    1,126

    Default Re: Can I Negotiate A Short Sale Without Ruining My Credit

    That is an option, but, again, you'll need to be behind before they even consider it.

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