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short sale without recourse

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curlis2051 Joined: 29 May 2010 Posts: 1 1.00 Dollars($)	Posted: Sat May 29, 2010 9:05 am    Post subject: short sale without recourse Like 0 Dislike 0 I'm considering a short sale without recourse, I bought for $310,000 and the house is now worth $150,000. I already got a loan modification, but the principle remains the same. I'm no longer interested in keeping this house. Firstly, do I talk with my lender, a lawyer or a realtor?
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Sun May 30, 2010 10:14 pm    Post subject: Like 0 Dislike 0 Welcome curlis, As you want a short sale in order to get rid of the property, I would suggest you to contact your lender and apply for the same. The lender will take a look at your financial situation and let you know whether or not he will accept your request. Lenders generally accept short sale when you've defaulted on your mortgage payments. _________________ Procrastination is the enemy of your financial success

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