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short sale: Beware and Be Aware of "We Buy Houses" - 12/11/06 07:21 PM
You probably have seen their billboards, we pay cash for houses!. Some even have websites. If they offer to give you nominal amount of money to take over your payments and all you have to do is sign a quit-claim deed, then you are not being released from your obligation to your mortgage company. Your mortgage company will continue to call you seeking repayment of your debt. The mortgage company will continue to foreclose on the property Not all of these "We pay cash for houses" buyers are scam artists. But many are. Some really will pay cash for your house. But
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