Payments?

I have owned my home for 15 years have ALWAYS been on time with my payments but I have been laid off so I applied for short sale about 4 months ago. They have not contacted me or did an apraisal yet. My question is, should I keep making payments to my mortgage or not???...please help.

Comments(2)

  • TheShortSalePro21st January, 2009

    With equity... there is no need for short sale. A condition of short sale is "seller to receive zero proceeds" from sale.

  • ceinvests21st January, 2009

    details..... details!

    How much is the house worth?
    How much do you still owe?
    Is the mortgage a mortgage or a home line?
    What type?
    30fixed?, 15fixed?, interest only? negative am?

    Your credit will be affected if you stop making payments. I guess the sale will get rid of the house and the payments since you are offered a place to stay. You must not have equity, then. ??

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