can they go after my new home if I short sale my rental property?

May 21st, 2010 | by admin |

if I short sale my rental property, can the lender go after my new home?

Not if they agreed to the short sale, which is unusual with investment property.

  1. 4 Responses to “can they go after my new home if I short sale my rental property?”

  2. By Common Sense on May 21, 2010 | Reply

    Usually no.
    References :

  3. By Landlord on May 21, 2010 | Reply

    Not if they agreed to the short sale, which is unusual with investment property.
    References :

  4. By skr on May 21, 2010 | Reply

    Nope but they can take you to court and file a judgement or send you a nice 1099 that you have to pay income tax on. There have to be reasons to do a short sale and it is never to just unload a property, especially an investment.
    References :

  5. By Paul on May 21, 2010 | Reply

    If you are having a difficult time because of the debt on your home, you might want to consider a forensic audit of your loan process.

    Lenders have many requirements that they are supposed to follow when making a loan and in the last few years have not fulfilled their requirements.

    Nearly all loans that were – ARM’s, Stated Income, Investor, No Doc, had a prepayment penalty, were made to someone speaking a foreign language – were made out of compliance. The audit will show what the lender has done in violation of the lending requirements.

    You use their violations to give yourself a position of strength in dealing with them, instead of being under their thumb begging for help.

    People can use this information to force a lender to reduce the principal amount, interest rate, the payment, or to complete a short sale.

    I can send you an example of the 67 page report you receive after a forensic audit is completed. You will be amazed at the violations that are common in these audits.

    If you’d like more information go to:

    http://debt-terminator.info

    Good luck!
    References :

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