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Home › Forums › Closed Forums › Buying and Selling RE › Should my friend attempt a loan mod or do a short sale?

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  • December 23, 2010 at 1:28 PM #18320
    fredo4
    Participant

    She bought her house in Oside in 2007 for almost twice as much as it’s worth now. Her husband is currently out of work and she’s home with her baby. They are worried about ruining their credit. What do you suggest? In four years their interest rate will change to a variable. Thanks!

    December 23, 2010 at 1:35 PM #644270
    DataAgent
    Participant

    Since they are both not working, why would a lender do a loan mod? They have no documented income. Short sale is probably the better (and maybe the only) option.

    December 23, 2010 at 1:35 PM #644341
    DataAgent
    Participant

    Since they are both not working, why would a lender do a loan mod? They have no documented income. Short sale is probably the better (and maybe the only) option.

    December 23, 2010 at 1:35 PM #644921
    DataAgent
    Participant

    Since they are both not working, why would a lender do a loan mod? They have no documented income. Short sale is probably the better (and maybe the only) option.

    December 23, 2010 at 1:35 PM #645057
    DataAgent
    Participant

    Since they are both not working, why would a lender do a loan mod? They have no documented income. Short sale is probably the better (and maybe the only) option.

    December 23, 2010 at 1:35 PM #645380
    DataAgent
    Participant

    Since they are both not working, why would a lender do a loan mod? They have no documented income. Short sale is probably the better (and maybe the only) option.

    December 23, 2010 at 2:06 PM #644280
    fredo4
    Participant

    With the unemployment rate as high as it aren’t the majority of people looking for loan mods out of work? A friend of mine in the entertainment industry was out of work when she applied (and I believe received) a loan mod.

    December 23, 2010 at 2:06 PM #644351
    fredo4
    Participant

    With the unemployment rate as high as it aren’t the majority of people looking for loan mods out of work? A friend of mine in the entertainment industry was out of work when she applied (and I believe received) a loan mod.

    December 23, 2010 at 2:06 PM #644931
    fredo4
    Participant

    With the unemployment rate as high as it aren’t the majority of people looking for loan mods out of work? A friend of mine in the entertainment industry was out of work when she applied (and I believe received) a loan mod.

    December 23, 2010 at 2:06 PM #645067
    fredo4
    Participant

    With the unemployment rate as high as it aren’t the majority of people looking for loan mods out of work? A friend of mine in the entertainment industry was out of work when she applied (and I believe received) a loan mod.

    December 23, 2010 at 2:06 PM #645390
    fredo4
    Participant

    With the unemployment rate as high as it aren’t the majority of people looking for loan mods out of work? A friend of mine in the entertainment industry was out of work when she applied (and I believe received) a loan mod.

    December 23, 2010 at 2:29 PM #644295
    briansd1
    Guest

    I wonder, is someone who is out of a job and without income entitled to a loan mod or short sale?

    Or should foreclosure be the best market-based approach.

    December 23, 2010 at 2:29 PM #644366
    briansd1
    Guest

    I wonder, is someone who is out of a job and without income entitled to a loan mod or short sale?

    Or should foreclosure be the best market-based approach.

    December 23, 2010 at 2:29 PM #644946
    briansd1
    Guest

    I wonder, is someone who is out of a job and without income entitled to a loan mod or short sale?

    Or should foreclosure be the best market-based approach.

    December 23, 2010 at 2:29 PM #645082
    briansd1
    Guest

    I wonder, is someone who is out of a job and without income entitled to a loan mod or short sale?

    Or should foreclosure be the best market-based approach.

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