Need advise

**Dboy** · 11-18-2009, 07:09 AM

Hi,
I was out of job for long time and I defaulted in my mortgage payment. My bank attorney's started to foreclose the property. Mean while I hired a agent to sell my house and she found a buyer for short sale and we have signed and submitted the papers to bank for approval. Now I found a job.
My problem here is I wanted to keep the house but I am not sure if I should contact bank and let them know about it and cancel the short sale or anything else that can keep me in my house? I am puzzled and thought less what to do, can any one help me what should be my best step to do?

Thanks

**tuttleco** · 12-16-2009, 05:28 AM

The best step you can do is to contact the agent that assisted you in selling your house and ask for advise as to how you can reverse the process.

**Carla** · 02-02-2010, 08:33 AM

I agree with tuttle

**freelancerpoker** · 06-09-2010, 10:43 PM

Once you get back your house, don't even think to sell it again.

**Dave Reynolds** · 09-08-2011, 08:15 AM

Under the Making Home Affordable Act of 2009 as the homeowner you have the right to pursue options available to you in order to avoid foreclosures. Those options include short sales as well as loan modification programs. In your case I would recommend that you contact your bank and see what options are available.

Additionally you should speak with your real estate agent (and real estate attorney) to see if you would be held liable for any damages due to the breach of the sales contract. If you are not subject to damages I would recommend that you work with your bank to determine a payment arrangement that you can afford in order to keep you in your home.