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MY LOAN IS THUR BANK OF AMERICA, I HAVE BEEN TURNED DOWN TWICE…

MY LOAN IS THUR BANK...
MY LOAN IS THUR BANK OF AMERICA, I HAVE BEEN TURNED DOWN TWICE FOR MODIFICATION I WAS TOLD MY ONLY OPTIONS WAS FORCLOSURE OR SHORT SALE. IF I HAVE A INVESTOR WHO IS WILLING TO PURCHASE THE HOME AS IS ON A SHORT SALE DO I HAVE TO MOVE BECAUSE THE INVESTOR SD WE COULD CONTINUE TO LIVE HERE. I WAS TOLD IF I DO A SHORT SALE I HAD TO MOVE IS THIS CORRECT. I WAS DENIED FROM THE MODIFICATION DUE TO DEBT TO INCOME RATIO
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Answered in 2 minutes by:
12/1/2010
lwpat
lwpat, Attorney
Category: Real Estate Law
Satisfied Customers: 25,387
Experience: Practicing attorney with expertise in easements
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Subscription customers. An ACCEPT is credited to me but you are not charged. Followup questions WILL be answered if my first answer is acceptable.

Once the house is purchased you can remain in the house and rent from the new owner if the new owner allows. They cannot force you to move if the new owner wants to rent to you.
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Customer reply replied 7 years ago
but can i remain in the home while it is going thur the short sale
Yes you can. They cannot force you to move unless they actually foreclose.
lwpat
lwpat, Attorney
Category: Real Estate Law
Satisfied Customers: 25,387
Experience: Practicing attorney with expertise in easements
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The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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