I just don't want the house anymore because I can't afford it anymore. And I just want to pay taxes on the one we live in could there be any way on how I could find help or advice on how to go about it?
2007-01-31 01:30:02 · 6 answers · asked by edwardcoy@sbcglobal.net 1 in Business & Finance ➔ Renting & Real Estate
Yes the bank may take the home back without foreclosing on it. Talk to your lender and explain your situation. The person above has no idea what they are talking about!
2007-01-31 03:03:55 · answer #1 · answered by Paul V 6 · 0⤊ 0⤋
If the mortgage is in arrears then you are heading towards foreclosure. To avoid this, negotiate a short sale with the bank and list the property for a quick sale with an agent.....pls. don't let them foreclose on you since this is not only a deathnail to your credit history but may also affect any other properties (inclu. primary residence) that you own since your loan was probably a recourse loan.....
2007-01-31 12:50:29 · answer #2 · answered by boston857 5 · 0⤊ 0⤋
Call the lender and explain the situation. They can take back the house, this will damage your credit.
However it's not considered a foreclosure, so the damage that is done isn't as bad as it could be.
From Experience !
Good Luck
2007-01-31 09:39:19 · answer #3 · answered by AlwaysLearning 2 · 0⤊ 3⤋
list it for sale take over payments 0 dn it will sell fast
2007-01-31 09:39:12 · answer #4 · answered by peanut 4 · 0⤊ 0⤋
never heard of lender taking the house without filing the foreclosure... banks are not in real estate business, they're in business of lending money.
2007-01-31 10:03:08 · answer #5 · answered by Anonymous · 2⤊ 1⤋
Contact a realtor. That's what they do.
2007-01-31 09:37:30 · answer #6 · answered by MOM KNOWS EVERYTHING 7 · 3⤊ 1⤋