I have received my chapter 7 discharge, still facing foreclosure my house doesnt have any equity left...?
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A short sale has to be approved by the bank holding the note, so the lender has to get all of your information first, then submit the request to the bank to see if they will accept a lower amount of money for the payoff. Your attorney may already have spoken to the lender to ask them, and they may have said no. Check with the attorney, and ask him specifically if he already asked the bank, tell him it can be done, and find out through a lender if the bank will approve it. The only factor you have to consider is how much time you have before the home goes to auction. Good Luck!!
listen to your attorney - that is why you paid the big bucks. people contact you because you are in a pickle and may make a impulsive decision.
A short sale means the lender is willing to take less than they are legally entitled to. They will settle for less than they are owed.
It is always possible to do a short sale if the lender's alternative is a foreclosure where they will lose money. Not all lenders will agree.
It is up to you if you want to work on this or just let the foreclosure process drag out until it is done.
I am not sure what you really asked your attorney. What you are indicating they said says they either answered a different question or they do not know what they are doing when it comes to short sales. If they are not a RE attorney that might be the issue.
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