Will Re-Amortization Stop Short?

If owner of a home goes into foreclosure and then does a re-amortization agreement with lender to save the trustee sale is there still opportunitty for a short sale?

Comments(3)

  • TheShortSalePro8th September, 2003

    If the Borrowers default to the reamortization schedule, it will confirm the need for a short sale....

    But if the reamortization plan is in good standing... the mortgagee will want to know where is the hardship.... thinking they alleviated the hardship by reamortizing the loan.

  • alubeck10th September, 2003

    SSP,
    Almost everyone I work with that has gone through a re-ammoritiazation has their paymetns increase by at least 50%. This alone makes them want to sell their house.
    Any advice on approaching banks after a reammoritaization?
    A

  • TheShortSalePro10th September, 2003

    Can you give me ONE example of a mortgage that has been reamortized for the benefit of a mortgagor that has resulted in a 50% increase in payment?

    Just one.

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