Do I have to be behind on my Mortgage payments before I can request a short sale on my property?
I don’t have enough equity, all of a sudden, in my home. I have Good Credit, Steady Income. but because of no equity, I am unable to refinance. Wachovia stopped Modifying Loans just today (7/2/08) and I don’t want to forclose. Do I have to wait and become behind in monthly mortgage payments before I can request a short sale from the Lender? Please let me know.