We are not in default (yet) on our mortgage. We are paying rent right now in MA and own our house in maine but it is vacant. Our mortgage company (citimortgage) is not being very helpful. They want all or nothing- no half-payments. They call me (an automated call) at least 3x/day since June 2 (when our payment was 1 day late) as a reminder that they have not received our payment. We are not 30 days late yet, as I said. We met with a realtor to put the house on the market yesterday and it will be listed in the next 4 days. Jobs took us out of state.
Our realtor said our home will most likely be a short sale because of the appraisal we got and the amount we owe. We can't continue to pay on the house since we are paying rent- we either have to stop paying on it or stop paying our other bills and rent. Since my credit is going to be ruined by the short sale, woudl I be wise to stop paying it? I am OK with a short sale- I have come to grips with it- but I don't want to have to be escorted out, foreclosure, court, etc etc. UGH. I applied for assistance from the mortgage company but they said since we are paying rent, which puts us oweing more than we make each month, we would most likely not get any help.
*sigh* Can anyone suggest anything?
Our realtor said our home will most likely be a short sale because of the appraisal we got and the amount we owe. We can't continue to pay on the house since we are paying rent- we either have to stop paying on it or stop paying our other bills and rent. Since my credit is going to be ruined by the short sale, woudl I be wise to stop paying it? I am OK with a short sale- I have come to grips with it- but I don't want to have to be escorted out, foreclosure, court, etc etc. UGH. I applied for assistance from the mortgage company but they said since we are paying rent, which puts us oweing more than we make each month, we would most likely not get any help.
*sigh* Can anyone suggest anything?