Should I make my last Mortgage Payment (short sale)??

[justsomeguy]

What is the name of your state (only U.S. law)? TX


Hey guys,

I am in the middle of a short sale. My Realtor I think is not able to "legally/ethically" give me his best advice in this situation.

We have made our payment for August but not September. We were supposed to close on September 30th and everyone was getting paid off in the HUD1.

Our Second delayed getting us approval for so long that now we are not going to be able to close until the 30th of October.

So.... I was not planning on paying my mortgage for the month of Setember, or my HOA Fees as they would be paid off, now I have to rethink it in the next couple of days.

My credit is not good, the short sale would hurt us although we have never been over 30 days late so it wasnt going to be that bad.

We are not planning on buying a house or using credit for anything in the near future other than renting an apartment which we could get a co-signer for.

So... Do I go ahead and go 30 days late on my first and second mortgage and get them paid off at the end on the HUD 1 or should I go ahead and make my september payment?

If it matters we're stretched very thin and my wife is due with our first child in November and we do not have health insurance. (big reason for the short sale). It also may be a mute point cuz I'm not sure where I'd get the money.

I appreciate your opinions.

 

[John Carson]

i would call the title company or attorney that is handling your closing and ask them that question, they should should know how to handle it

 

[HomeGuru]

What is the name of your state (only U.S. law)? TX


Hey guys,

I am in the middle of a short sale. My Realtor I think is not able to "legally/ethically" give me his best advice in this situation.

We have made our payment for August but not September. We were supposed to close on September 30th and everyone was getting paid off in the HUD1.

Our Second delayed getting us approval for so long that now we are not going to be able to close until the 30th of October.

So.... I was not planning on paying my mortgage for the month of Setember, or my HOA Fees as they would be paid off, now I have to rethink it in the next couple of days.

My credit is not good, the short sale would hurt us although we have never been over 30 days late so it wasnt going to be that bad.

We are not planning on buying a house or using credit for anything in the near future other than renting an apartment which we could get a co-signer for.

So... Do I go ahead and go 30 days late on my first and second mortgage and get them paid off at the end on the HUD 1 or should I go ahead and make my september payment?

If it matters we're stretched very thin and my wife is due with our first child in November and we do not have health insurance. (big reason for the short sale). It also may be a mute point cuz I'm not sure where I'd get the money.

I appreciate your opinions.

**A: yes, keep making your payments until closing.