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