All Forum Posts by: Kimberly Gordon

UPDATE: thanks for all the input everyone. I decided NOT to rent the house out and the buyers still made an offer!! Now just get the bank to approve the short sale . please keep fingers crossed! Thanks again

I should clarify, I am making mortgage payments and the couple wanting to rent the house are the ones willing to put down a contract. We just don't know if the bank will approve short sale offer or not. They want to get into the house as soon as possible without having to move two times (which I can understand).

I was thinking that I could write a clause into a month-month lease stating that if the bank does not approve my short sale they would have 30 days notice to vacate....

I just worry it's too many "what ifs". But if I don't get another contract soon I will be probable foreclosure as I will soon drop behind on payments. So much to think about!

thank you for the responses. My concerns are what you stated, what happens if the sale is not approved and I need them out? they trash the house !?
On the hand, it would help me with mortgage payments for a few more months while waiting to close...

I listed my home for sale at reduced price in hopes of EMC mortgage co. accepting the reduced price. Now the interested buyer wants to know if- once they put the contract down- we would rent to them until the short sale is hopefully approved. Good/ bad idea?? I just don't want to be stuck with renters if short sale is denied...
Any advice is appreciated.