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LegalKnowledge
LegalKnowledge, Attorney
Category: Bankruptcy Law
Satisfied Customers: 24990
Experience:  10+ years handling Legal, Real Estate, Criminal Law, Family Law, Traffic matters.
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We opted short sale on our rental property because we

Customer Question

We opted for a short sale on our rental property because we couldn't pay off the balance of a Line-of- credit held against the house. How long should it take for the bank to release the LOC so we can sell the house?
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  LegalKnowledge replied 1 year ago.

Good afternoon. Is there a first mortgage in addition to the line of credit? Is there enough to pay off the first with the sale?