How do I get out from under my mortgage of a house that has not sold in 7 months?

Question

I live in a ruaral area in Colorado. My house has been up for sale for 7 months with no offers. Changed realtors to utlize the internet. Commuting costs are killing us since my husband now works out of town (100 miles round trip a day).

Answer 1

hello, here's an easy
link with info and offers on mortgages:
http://finance.ebookorama.com/
also perhaps here:
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
http://credit-cards.ebookorama.com
if you get any luck please don't forget about me lol, hope it helped you, thanks!

Answer 2

Drop your price to rock-bottom. Offer to pay buyers closing costs. If it is not in the MLS, you are making a big mistake.
Raise the commission to 8%, giving 3 to the listng agent and 5 to the selling agent. Have your realtor make a big deal about this on every site they have. They should have the ability to put it on at least 5 sites.

These are all time-tested ways. Do a combination of the above if you can. You can also go to your bank and work out something with them involving a "short pay". This allows the realtor to advertise the property at less than what you owe on paper because the bank will take your negotiated payoff amount. They would rather do that than be in the business of tyrying to sell your house. Good luck.

Answer 3

You have a lot of options, but you should really be asking this to someone w/ experience flipping houses. Hopefully someone sees your question and gives you the advice that works for you. Right off the top of my head here are a few options:
1. Run an ad in the news paper offering owner financing
2. Go ahead and move, rent it out and buy another home to live in. Let your renters pay the mortgage.
3. List it on CraigsList w/ special options like owner financing, etc...
4. Get the best agent in town. You can go w/ somebody cheap and wait 7 months to sale or now just get it foreclosed on or you can go w/ someone good who can will all their resources (potential buyers, mortgage companies and good marketing) and even though they will charge you more you will probably save in the end. Good, experienced agents gets lots of buyer referrals so they have a bigger pool of people to offer your home to and they know if what you are asking is too high because they will pull comps.

Also...If you are paying for their service then you are paying for their experience so you should take their advice.

Answer 4

Would it be more cost effective for your husband to find someplace to rent near his job until the house sells? Either weekly or monthly? My father-in-law did this for over a year, and came home only on the weekends.

The market is slow everywhere due to increases in interest rates. Make your home a better deal by offering to pay closing costs, offer a 1 year home warranty, lower your asking price.

Answer 5

If you don't mind ruining your credit, you might be able to declare bankruptcy and just move out of the house.  But you can only do this once, and it limits your options for a long time.

Why didn't your husband consider commuting costs when he took the new job?  See if the old job is still available.

Answer 6

Why don't you offer cash back to any buyer, it may help close the deal. You may also want to offer it on House Sitters .com, and perhaps an artist or writer would take over the costs until is is sold,

Answer 7

You may have to lower the asking price for your house. If your house is not neat and clean, people are put off because if you can't keep it clean how could you keep up with repairs.

Answer 8

Lower your price and get out while the getting is good or you may get stuck.

Answer 9

look for an invester they are all over or rent it with op /to buy