Скачать или смотреть Does the bank take your savings in a short sale?

By http://www.RealEstateSmart.TV - I am trying to help my 80 year old mother. My father just passed away and the retirement income will now be reduced by 45% (Go figure). The mortgage is $1500/mo, $192,000 mortgage balance and fair market value is $129,000. My mom does not want to stay in the house... My mom also has about $60,000 in savings. The mortgage payment is definitely more than 31% of her income. Currently she is up to date on her mortgage.

So my question is, will they disapprove her because she has too much in savings?

Or will the bank take the savings to pay for the difference between the sale price and the selling price?

Read more or follow the discussion here: http://www.loansafe.org/forum/short-s...