Legal Question in Real Estate Law in New York

I was approved for a home loan modification, but need to short sale my home. Will signing the documents of the loan mod hurt my chances of getting approved for a short sale?


Asked on 10/18/10, 11:28 am

1 Answer from Attorneys

Denise Johnson Denise Johnson, Esq.

Not quite sure of the question as applying for a loan modification and agreeing to a short sale of of your home are two very very different means of avoiding foreclosure . With a short sale, you are agreeing to allow your Lender to sell your property to satisfy the debt and loan modification, you intend on attempting to save your home. With that being said, you cannot do both as they are polar opposites of each other. It is advised that you obtain further legal advice or consult a housing agency in your area that can better explain your options to you.

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Answered on 1/24/11, 9:52 pm


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