I closed last november of 07'. I lost two buyers due to wilshire not cooperating and making the process take weeks to month to accept a short sale. I complained numerous times which did make it seem to go quicker.
The next offer I recieved though was 20,000 dollars less than the total I owed. I accepted the offer cause I could no longer pay the mortgage. The other downside is wilshire says the do not do short sales as part of a wash for the money that is short.
Wilshire says they do accept to do a different loan after the sale of the house then with the 20,000 that made it a short sale I owed to wilshire for a loan of 10 years.
I really think this is unfair because other banks do accept a short sale for which that is the reason they call it that but wilshire doesnt. It seems like it put me in a position where I had to accept it or Iwould go into foreclosure. They also make me pay interest on the 20,000 dollars.
I also need help with anyone who knows how it affects you after, credit wise. I have lates on my loan now every month after the sale of the house which has greatly affected my credit.
Is there anyway I can still get this 20,000 dollars that I owe washed. Please help
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