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Can we get out from under our house in Phoenix? We owe $220,000

We need to sell our home as we have had negative equity for a number of years. We understand the market is going good right now. Zillow has the value of our house at $156,000, but the square footage is wrong, it says 1530, but we enclosed the carport, which is abt 10x10 and we are adding a 5th bedroom. (putting in a window in one of the rooms that has a closet).Can we get out of it?
  • May 30 2013 - Phoenix
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Answers (4)

Many people have felt just like you. The answers given are right as far as learning your value.  My law firm will provide you with a free legal consultation to understand - from a legal standpoint and a real estate sales standpoint - what options you have.  The short answer is yes, you can get out from under that mortgage through several means besides short sale of foreclosure. Just click on our link/name above to call or email us. If you are a short sale we have 200+ completed in the 18 months.
  • June 07 2013
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Thank you for the responses
  • May 30 2013
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I am an agent locally here in town.  The market is coming back and I can send you more information on the market conditions and the possibility of selling your home.  Feel free to email or call me.
  • May 30 2013
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Profile picture for Outer Banks N C
First, I would not trust Zillows estimate at all. No one in the business pays any attention to them because they are just wild guesses at best and seldom correct. Get a Realtor to come do a CMA to determine the real value in todays market based on real data and not guesses. Then you can make a real decision. I would contact two Realtors and see what they say after they see it.
  • May 30 2013
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