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Hi Steve from Wilhelmy Homes
Hey thanks for stopping by the site
I really do appreciate it
I want to talk to you folks that are thinking about short sales and going through that
I just don't know
But one of the questions that I get often is I don't want to screw up my credit
So I want to stay current on my mortgage and that's what I want to do
But I just can't do it anymore
And so the question is can I do a short sale without missing a payment
The short answer to that is maybe and I hate to be that generic
But unfortunately there are many guidelines with the investors
Sometimes the servicers if you don't know the difference
We got a blog on that of course we got blog on everything
What is the difference between the servicer and an investor is
But there is a lot of times guidelines and requirements
That if you are going to do a short sale and if they're going to approve a short sale
Then you're going to need to be late on your mortgage that's the reality
Especially if your hardship is a financial one
Now is there a way to do this and not be late on the mortgage
Yeah there is couple of things let's say your hardship is a relocation hardship
You're living in the Twin Cities and your job relocates you to Des Moines
Well you're certainly not going to commute
That just that doesn't make sense and you're under water
Well that's a hardship
That's a very legitimate hardship and it happens all the time
And you can actually stay current on that
You can stay current and then what you can do
Is once you get to Des Moines
We get this house short sale-d up here for you
And then you're you can actually buy a house right away using an FHA program
And if you want to talk more about that I'd love to chat with you about
That I have a blog in there about what to do after a short sale
And there is options for you
There is also some other financing options that we've talked about
You get to check out some of these other blogs and they'll be in more detail
So yes there is a way to do it without missing a payment
There is also another hardship, it's called imminent default
And sometimes we can prove that
Sometimes we can't prove that
Basically what we're saying is when we go out to the bank and saying hey you know what
Yes Mr. and Mrs. Smith haven't been late on their mortgage
However they will be in the next two to three months
Maybe something happened
Maybe somebody lost a job and you got severance for a couple of months
And you really want to stay current
Sometimes we can make that point with the banks and saying hey if we can get this right
away
We're going to want
We're going to be able to do this and they won't be late
The bank won't be out any extra money
All of those things
So yeah, there is there are ways definitely to do that
How does that play into affect
Well I'm getting a long here so I'm going to tease you for the next one
And tell you on part 2 of short sales without missing payments
What we're going to be talking about on there
So if you want to talk real estate stuff
Feel free there is my phone number
My email address reach out to me anyway
You can comment on this blog
I'd love to chat with you about anything related to real estate
what their short sales or anything else
And thanks for stopping by the site
It's Steve from Wilhelmy Homes
Have a great day