How fast can I make my mortgage company - Loan Modification - Free Foreclosure Help

jedihush · #1 (**permalink**) 03-02-2009, 09:04 AM

foreclosure on my house? I havent missed a payment yet but I am planning on moving within 4 months.I will let the house go with March being my last payment.Is there anyway I can help my mortgage company expedite the foreclosure? This is probably a strange question but I would like to know if it is possible to get the house out of my name within 4 months.I know it will affect my credit but I cant sell the house because it is worth way less then what I bought it for.

iloveakatlanta · #2 (**permalink**) 03-02-2009, 11:37 AM

Are you sure you want to do this, this is going to be an ugly hit on your credit. Have you tried selling the house?

Carolyn · #3 (**permalink**) 03-02-2009, 12:54 PM

You need to discuss a short sale with them - depending on the bank I've seen this process take years to sort out. Try selling it and see if the bank will accept a short sale.

MadMan · #4 (**permalink**) 03-02-2009, 02:11 PM

You can just stop paying now. HOWEVER, if you are in a recourse sate, the bank can come after you for the shortfall.

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