Homeowner Needs Help W/ Short Sale
Hello, I am a first time user and any help is greatly appreciated! Metro Detroit Area...Home is listed at $211,000 after price reductions and may have to go as low as $200,000.
1st mortgage is approx. $209,000 and 2nd HELOC w/ Chase is approx. $114,000 now converted to amortized pmts. Have contacted Chase and they said to send in an offer when we recieve one, but they gave us no guidance on what action they would take.
Is there anything we can do in the meantime as there is no equity at all for Chase and we will be short on the 1st w/ Countrywide?
Thanks in advance for your assistance!
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