There was an interesting article in Sunday’s Review Journal about the Nevada foreclosure market and the mediation program . The link is provided below. While I agree that modification should be thought of more as an achievement than an entitlement, I do not propose that people should merely walk away from their homes as one suggested. There are various strategies to consider regarding disposition of the house or related mortgage. We look forward to answering your questions should you like to respond with your thoughts.
One Response
Will a short sale hurt your credit? If so, are there any options to negotiate? Currently, what is the process if the bank doesn’t want to forgive the debt? Is that debt transferable to a third party and can that too be negotiated down if the debt we are talking about is less then $60K? What fees or other financial “stickiness” would apply?