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Old 01-22-2010, 09:47 PM
 
1 posts, read 1,191 times
Reputation: 10

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I am in a very tough situation and need advise on what to do.. We purchased a home under my brother in-laws name about two years ago, and everything seem to be ok. Up until my brother in-law and my husband both lost their jobs! (mind you, both were head of household). My brother in law Mark decided we would both do a home modification on his property and ours as well. Mark, picked the person he wanted to do both modifications and in which we were charged $3,000 with a $1,500 dp. Its been a little over a year, and turns out that our modification was turned in sometime in late November!!! we recenlty got a letter from the bank stating that it would take 20days before we get an answer..... 27 days have past and nothing has been decided.

To make matters worse Mark informed us that we had up until this week before he would short sale our house. he gave us a choice to take over and purchase the home if we qualify. In which I don't think we can qualify due to our credit. My husband is now working and so am I. from what friends have told me you cant short sale while in the process of modo? now i don't know much of this is true. What can I do?

Can anyone please help me!!!

Sandy
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Old 01-24-2010, 01:16 AM
 
2 posts, read 2,350 times
Reputation: 10
I hate hearing about this! Banks are not really your friend, it is something that you need to stay on top of. I might be able to help you with the short sale aspect of this if the modification does not work. You can short sale while in the process of modification, but people usually wait until the modification has completed. Give me an email at mark@modmastery.com and I can help you further
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