Behind on Payments? Credit Counseling and Short Sales

At MortgageNet Daily, there is a new article about credit counseling, which can be a viable option for those who are falling behind.

It goes on to describe information about the challenge of short sales (loss mitigators are overwhelmed), and how to work a short sale.  If you are considering a short sale, please read the article.

Short Sale Processing Time

At Mortgage News, there is an article about the time it takes to process short sales.  Banks are hard to deal with, loss mitigators are overwhelmed, and many attempts at short sales fail.

The article contains anecdotes of timelines like 2 months, to 11 months, to complete rejection by the banks.

 A short sale process is not a guaranteed solution