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Registered: ‎11-11-2012
Re: Short Sale a house with up-to-date payment

The problem we were having was that we weren't living in the house anymore therefore it wasn't technically classified as a primary residence as we pretty much had it up as a rental property.


Being a first time homeowner, we learned a very valuable lesson about purchasing and selling a home.  From what I figured out, the loan agency was pretty shady with information they were telling us.  We did an FHA loan, we had enough of a downpayment to get out of PMI, but the realtor was telling us it wasnt worth it.  Somehow our interest rate changed by +1.25% in two days(2007). So what I learned in the loan process is, that you need to do your research before buying, even better, eliminate the middle man and take care of it yourself.