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m2king · Joined: 25 May 2010 Posts: 1 1.30 Dollars($)

I have signed a short sale offer on my home and now the mortgage company is offering me a DIL that I must sign withing the next 5 days. They will pay me $3000 to vacate in 45 days. I am 60 and not planning on EVER buying another home. I live in AZ. Your advice? Can the short sale buyers hold me to the contract?

I am not concerned with my credit score going down 250 points. My mortgage is with Ocwen.

jameshogg · Posted: Tue May 25, 2010 7:47 pm Post subject:

Hi m2king,

A deed in lieu of foreclosure is a good offer given to you by your lender and I feel you should accept it. As far as the short sale is concerned, the buyers may hold you for the contract. You will have to negotiate with the buyers in order to cancel the contract.

Thanks

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