The short sale, by itself, will not afecft your credit. But you will have to pay off the old mortgage when you sell. If you can’t do that, then you’re in big trouble.You can always buy another house if you pay cash. The problem is getting anybody to lend you any money.As for The bank will not just let you walk away how are they going to stop you? It’s not a crime to own money. But when you are behind in payments, they might get a court judgment and take any money, cars, furniture, etc. that you have. Any if you get any money later, they can come back and take that except for about $200 a week to live on (depends on the state).
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Grasielle
September 29, 2013The short sale, by itself, will not afecft your credit. But you will have to pay off the old mortgage when you sell. If you can’t do that, then you’re in big trouble.You can always buy another house if you pay cash. The problem is getting anybody to lend you any money.As for The bank will not just let you walk away how are they going to stop you? It’s not a crime to own money. But when you are behind in payments, they might get a court judgment and take any money, cars, furniture, etc. that you have. Any if you get any money later, they can come back and take that except for about $200 a week to live on (depends on the state).
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