I have a first, second and third mortgage on our house. Can the third mortgage keep us from selling out house if we can get what we owe on it.. They mentioned a short sale but they would have to agreed.
2006-06-30 03:57:03 · 8 answers · asked by skitters 2 in Business & Finance ➔ Renting & Real Estate
I house is appraised for more than we owe on it even now. My problem is that I can't afford a realtor to sell it. The 3rd mortgage people did say they would do a short sell if I can't get what I asking.. Everything was find until the interest rates started going up.
2006-06-30 04:58:19 · update #1
The 3rd will show as an encumbrance on the title report. The buyers will not be able to obtain title insurance unless that loan is paid off or the lender agrees to reconvey without being paid.
2006-06-30 04:02:57 · answer #1 · answered by Tom S 3 · 0⤊ 0⤋
Each liean (mortgage) has to be paid in order to have a clear title. NO buyers or lender will touch a property that does not have a clear title.
If you dont have enough equity to hire a professional Realtor, you will have to sale on your own but be very informed of how much your home is really valued at because if you dont price it right, you wont get it sold. Also if you dont market it correctly you will sit on the market for a long time so be prepared to spend money on your marketing.
If you are interested on how to get more money for your home you can watch the following ON-LINE seminar. No need to sign in and give me your personal information. Its all online:
07/06/2006
Time 8:00pm to 8:30pm (Pacific Time)
Event Title Remodel Your Home By the Numbers: Which Remodeling Projects Add the Most to the Resale Value of My Home?
07/20/2006
Time 8:00pm to 8:30pm (Pacific Time)
Event Title How To Stage Your Home For Sale For Top Dollar
07/27/2006
Time 20:00 to 20:30
Event Title Does Your Home Have The Curb Appeal It Deserves? How to Increase the Value of Your Home In the Eyes of a Potential Buyer
All you need to attend these seminar are your computer, your time and Windows Media Player. Email me and I will send you the link. I dont need your name, ph#, add, bla, bla, bla. =)
Good luck
2006-06-30 15:44:12 · answer #2 · answered by SCCRealEstateUNCENSORED.com 3 · 0⤊ 0⤋
Yes you can sell your house, you have to pay off the third mortgage first. If i can be of any assistance to anyone looking for a mortgage or refinancing please let me know
Andre Clark
Mortgage Consultant
First Financial Equities Inc.
"Get it right the FIRST time"
One Cherry Hill
Suite 901
Cherry Hill, NJ 08002
Toll Free: (800) 880-1833 ext 200
Direct Line: (856) 779-3291
Fax: (201) 227-4548
Mobile: (856) 383-2668
Email: andreclark@firstfi.com
2006-06-30 11:07:42 · answer #3 · answered by Andre C 1 · 0⤊ 0⤋
Do not short sell unless you are going into foreclosure! If you have equity and not enough to pay a realtor try to sell it by yourself (FSBO). Or sell it for what you owe and cut your losses and learn your lesson.
http://www.lendermark.com
2006-06-30 12:38:13 · answer #4 · answered by lendermark1 2 · 0⤊ 0⤋
Holy cow, what were all 3 of the mortgages for? Anyway, I really don't know, but I would assume, you could still sell it, but I, again, really don't know.
2006-06-30 11:00:59 · answer #5 · answered by Jeb R. 2 · 0⤊ 0⤋
As long as there is a Deed on the house owned by a mortgage company then you "owe" that company. If you only pay off the 1st & 2nd, then that 3rd automatically moves up to 1st position. If you get what you owe, just pay your mortgagor's. Duh!
2006-06-30 18:20:20 · answer #6 · answered by wolfettez 1 · 0⤊ 1⤋
You are apparently "up to your eyeballs" in debt.
This might be a good time to reappraise your approach to life. Why spend less than you earn? Then you would not be in this pickle!
Good luck!
2006-06-30 11:03:02 · answer #7 · answered by Anonymous · 0⤊ 1⤋
How many times are you going to ask this question??
2006-06-30 11:03:26 · answer #8 · answered by Bostonian In MO 7 · 0⤊ 0⤋