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Updated over 17 years ago on . Most recent reply

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Foreclosures

On short sale do you have to pay back the missed payments?

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Posted

Hi All,

When I evaluate the purchase price to be negotiated with lender for a short sale, if there are 15K in missed payments do I need to make sure I put that into my calculation?

i.e. loan amount 100K missed payments 15K do I need to assume 115K is the starting point?

(eventually looking deeper to see if liens, other mortgages, etc.)

Thanks!
Steph

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