Can I Do a Short Sale When the Mortgage Payments are Current?

Yes, well, sometimes, and there may be a catch to it as well.

When your mortgage payments are current, technically, the bank has no immediate reason to want to accept a short sale. BUT, you may be in a situation where you are about to stop making mortgage payments. This may be easily illustrated with a termination notice from your workplace or the lack of funds available in a checking or savings account.

Also, we have seen where banks will accept a short sale when the mortgage payments are current for no reason at all? The catch to this scenario is that in situations when the loan is a recourse loan, the bank may hold the borrower responsible for the short fall (since the bank may think you can pay them each month since you currently are.)

If you are current on mortgage payments and want to do a short sale but don’t know if the bank will do it, the only way to truly know is to try. We’ve seen banks accept short sales when it didn’t make logical sense whatsoever. Who know, maybe they aren’t as bright as we all assume?

ATTENTION HOMEOWNERS

• Need a short sale? Have one of our certified short sale specialists help you. SELL YOUR HOUSE NOW
• Have a short sale that is going nowhere? Have one of our certified short sale specialists help you. SELL YOUR HOUSE NOW
• Want the best in the business to help you with your short sale? Have one of our certified short sale specialists help you. SELL YOUR HOUSE NOW