Do I still have to pay my mortgage during a short sale?

Asked on December 3, 2011 under Real Estate Law, Florida

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If you want a betetr chance of having your lender approve the terms of sale for any contract of sale for your property where you owe more on its loan than what the property is worth, you should try and keep your loan's payment current.

If you are intending to try and sell your property by way of a shortsale, I suggest that you consult with an experienced real estate attorney to assist you in your endeavor. In most states to get a short sale of real property done, the seller needs to have his or her lender sign a short sale addendum approving the terms of the sale to a buyer.


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