- This topic has 305 replies, 29 voices, and was last updated 16 years, 10 months ago by Coronita.
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February 15, 2008 at 6:07 PM #154353February 15, 2008 at 6:16 PM #153987SD RealtorParticipant
Absolutely agree with you guys there. Any loan workout or mechanism offered by the lenders is simply a stay of execution to protect the investors, nothing more. The base mistake of purchasing an asset that the buyer could not afford cannot be remedied unless the principal is reduced significantly.
SD Realtor
February 15, 2008 at 6:16 PM #154263SD RealtorParticipantAbsolutely agree with you guys there. Any loan workout or mechanism offered by the lenders is simply a stay of execution to protect the investors, nothing more. The base mistake of purchasing an asset that the buyer could not afford cannot be remedied unless the principal is reduced significantly.
SD Realtor
February 15, 2008 at 6:16 PM #154276SD RealtorParticipantAbsolutely agree with you guys there. Any loan workout or mechanism offered by the lenders is simply a stay of execution to protect the investors, nothing more. The base mistake of purchasing an asset that the buyer could not afford cannot be remedied unless the principal is reduced significantly.
SD Realtor
February 15, 2008 at 6:16 PM #154285SD RealtorParticipantAbsolutely agree with you guys there. Any loan workout or mechanism offered by the lenders is simply a stay of execution to protect the investors, nothing more. The base mistake of purchasing an asset that the buyer could not afford cannot be remedied unless the principal is reduced significantly.
SD Realtor
February 15, 2008 at 6:16 PM #154363SD RealtorParticipantAbsolutely agree with you guys there. Any loan workout or mechanism offered by the lenders is simply a stay of execution to protect the investors, nothing more. The base mistake of purchasing an asset that the buyer could not afford cannot be remedied unless the principal is reduced significantly.
SD Realtor
February 15, 2008 at 6:40 PM #154007robyns_songParticipantI apologize if someone’s already mentioned this but what the loan workout or short sale may do is buy you some more time. You can always let them know you can’t afford your payments and want to do a short sale… You don’t have to be current on your loan to do a short sale and actually, they are more willing to work with people who can’t make the payments. Sometimes just seeing that you’re trying to do a short sale is enough for them to postpone the inevitable at least for little bit. Out of curiousity, can I ask who your lender is?
February 15, 2008 at 6:40 PM #154282robyns_songParticipantI apologize if someone’s already mentioned this but what the loan workout or short sale may do is buy you some more time. You can always let them know you can’t afford your payments and want to do a short sale… You don’t have to be current on your loan to do a short sale and actually, they are more willing to work with people who can’t make the payments. Sometimes just seeing that you’re trying to do a short sale is enough for them to postpone the inevitable at least for little bit. Out of curiousity, can I ask who your lender is?
February 15, 2008 at 6:40 PM #154295robyns_songParticipantI apologize if someone’s already mentioned this but what the loan workout or short sale may do is buy you some more time. You can always let them know you can’t afford your payments and want to do a short sale… You don’t have to be current on your loan to do a short sale and actually, they are more willing to work with people who can’t make the payments. Sometimes just seeing that you’re trying to do a short sale is enough for them to postpone the inevitable at least for little bit. Out of curiousity, can I ask who your lender is?
February 15, 2008 at 6:40 PM #154304robyns_songParticipantI apologize if someone’s already mentioned this but what the loan workout or short sale may do is buy you some more time. You can always let them know you can’t afford your payments and want to do a short sale… You don’t have to be current on your loan to do a short sale and actually, they are more willing to work with people who can’t make the payments. Sometimes just seeing that you’re trying to do a short sale is enough for them to postpone the inevitable at least for little bit. Out of curiousity, can I ask who your lender is?
February 15, 2008 at 6:40 PM #154383robyns_songParticipantI apologize if someone’s already mentioned this but what the loan workout or short sale may do is buy you some more time. You can always let them know you can’t afford your payments and want to do a short sale… You don’t have to be current on your loan to do a short sale and actually, they are more willing to work with people who can’t make the payments. Sometimes just seeing that you’re trying to do a short sale is enough for them to postpone the inevitable at least for little bit. Out of curiousity, can I ask who your lender is?
February 15, 2008 at 6:42 PM #154012citydwellerParticipantDJNinSD, check out the thread titled “Youwalkaway.com…” I’m not advising that you use their service, but there are some interesting posts, as well as a link to an article in “Voice of San Diego” about this company.
February 15, 2008 at 6:42 PM #154288citydwellerParticipantDJNinSD, check out the thread titled “Youwalkaway.com…” I’m not advising that you use their service, but there are some interesting posts, as well as a link to an article in “Voice of San Diego” about this company.
February 15, 2008 at 6:42 PM #154300citydwellerParticipantDJNinSD, check out the thread titled “Youwalkaway.com…” I’m not advising that you use their service, but there are some interesting posts, as well as a link to an article in “Voice of San Diego” about this company.
February 15, 2008 at 6:42 PM #154309citydwellerParticipantDJNinSD, check out the thread titled “Youwalkaway.com…” I’m not advising that you use their service, but there are some interesting posts, as well as a link to an article in “Voice of San Diego” about this company.
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