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Old 10-07-2008, 03:57 PM
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Join Date: Sep 2008
Location: MN
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Short Sale

What is the name of your state (only U.S. law)? MN

I spoke with someone at HomeVestors and they said they could work out doing a short sale on our house and "try" to negotiate a deal with my mortgage company. My question is, what are the pros and more importantly, the cons of doing this. I would be buying a new home in the mean time.
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Old 10-14-2008, 12:04 AM
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Join Date: Oct 2005
Location: Ohio (southwest)
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Ok, please tell me the reasoning behind this . . . you can not afford your first home (or at least expect the bank to take a loss on it when you decide it's time to sell), yet you intend to buy a new home? What am I missing?
Here's some advice; keep the old home, don't sell it until the market will support the sale, covering your mortgage that you promised to pay.
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