I plan to sell short. Should I make my mortgage payments anymore?
This is by far the most popular question asked by our Connecticut short sale clients. It is also the most difficult to answer, as we do not advise anyone to continue or to stop making their mortgage payments during a short sale. In fact, you'll be hard pressed to find any professional (lawyers included) to directly advise you here. Paying your mortgage during your short sale is matter of personal preference, and lenders do not have requirements either way. Here are the pro's and con's of each to help you make an informed decision:
IF YOU CONTINUE TO MAKE MORTGAGE PAYMENTS DURING YOUR SHORT SALE:
IF YOU STOP MAKING MORTGAGE PAYMENTS DURING YOUR SHORT SALE:
Last Updated on November 20, 2019 by Minna Reid