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If payment is missed?

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kandezz33 Joined: 19 Apr 2010 Posts: 1 1.00 Dollars($)	Posted: Mon Apr 19, 2010 7:50 am    Post subject: If payment is missed? Like 0 Dislike 0 Hi I am wondering what would happen if I missed a payment during the short sale that I am in? How would it affect my short sale and my credit score? Would it increase my chances of the bank trying to foreclose on my home? Also what happens if I pay some of the mortgage payment?
JKennedySLG Community Expert Joined: 01 Apr 2009 Posts: 408 Location: New Jersey/New York 20.05 Dollars($)	Posted: Mon Apr 19, 2010 8:50 am    Post subject: Like 0 Dislike 0 A short sale is going to impact your credit and going late and then doing a short sale will seriously impact your credit and make it hard for you to find financing after the process. If you are foreseeing not being able to make your full mortgage payment, then you should contact your lender as soon as possible and see what they can do to assist you. I hope this helps... _________________ James Kennedy New York/New Jersey (732)979-7409 Hard Money & Stated Income Loans First Time Home Buyers (540+ Credit)

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