So my lawyer tells me there is absolutely nothing we can do at this point. We had a Chap 13, but between the mortgage payments and the payments to the trustee, we couldn't make ends meet. So the Chap 13 was dismissed. now we have four weeks to find a place to live, he says. I want to try and refile the Chap 13 to buy some time, because we want to sell the house. Any thoughts?
2007-06-22 07:43:17 · 4 answers · asked by seevie8 2 in Business & Finance ➔ Renting & Real Estate
And just to clarify, I DO want to move on. I want to sell the house, and try to get away from the loan by breaking even. I don't even care about making money on it.
2007-06-22 07:54:59 · update #1
You CAN do a short sale with agreement from your lender, but don't expect to 'walk away clear and free'. The lender will seek a judgment against you for the deficiency as part of the agreement to the short sale.
This from the site www.shortsalesonly.com
Notice: This is a service for Investor's and Realtor/Brokers if you are behind on your payments please seek advice from an Attorney or Real Estate Professional.
Listen to your attorney and follow his advice.
2007-06-22 07:58:39 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
So if your lawyer says there is nothign you can do at this point, what makes you think there is something you can do at this point? They say to do a short sale above me, but your lender has to agree to that- at this point, that sounds pretty unlikely. My only thought is if you came up with all the money for the back payments real fast, they might be willing to let you keep the place- maybe. Id make sure of that before I sent them the check. Good luck- but it may be time to move, sorry about that.
2007-06-22 07:52:23 · answer #2 · answered by bmwdriver11 7 · 0⤊ 0⤋
i'm no longer an insider, so i don't be responsive to. Our newspaper publishes foreclosure each Tuesday and Thursday. One tell-tale sign is a letter looking element tacked to the door or pasted on the image window.
2016-10-02 23:18:34 · answer #3 · answered by ? 4 · 0⤊ 0⤋
I would do a short sale. Check out shortsalesonly.com
Basically this company can negociate with the bank to accept a low selling point, then they sell your home to an investor and you walk away free and clear.
2007-06-22 07:50:10 · answer #4 · answered by mdaleks 1 · 0⤊ 0⤋