Question by Lucky: How will it effect my home in LA if I do a short sale on my home in AZ?
My AZ tenants do not pay their rent on time. I can not maintain two mortgages. I owe more on the AZ home than it is worth so I can’t sell. I planned on moving to AZ but my plans have changed.
Answer by REO Master
If you are behind in your mortgages then you can short sale. A short sale only affects the sale of that home but….you could still be liable for the remaining balance. Which if you can not pay off then you may have to file bankruptcy. i would contact a Realtor and start the package asap because short sales are lengthy! Good Luck!!
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