Employment relocation-have no time to sell-owe more on mortgage than house is worth. What can I do?

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  • rdh
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December 02 2009 - US
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Answers (9)

Profile picture for An OrderLee Home
I realize this is probably a very silly question, but does your employer offer any kind of help for transferred employees? 

Also, have you spoken to a property management company about possibly leasing the home you are leaving?  If the lease did not cover but helped pay the mortgage, that could give you time to investigate options (or, depending on the location, for your home's value to improve). 
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December 03 2009

Kenny,

No self promotion on Zillow. The poster will contact you if they like what you say w/o links to websites, blogs, etc.

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December 03 2009
Profile picture for kennywagner
List the house immediately with an agent who has a short sale investor who can put an offer in immediately and stop any pending sale and start the short sale process.  As it was said previously, you can work with the agent even though you are out of town. 

If you can't find an agent with an investor like myself who buys and negotiates short sales and works with homeowners as well as agents, check out my blog at [content removed by moderator due to self-promotion] on more info on short sales and how I work with homeowners who are exactly in your situation.

Best of luck to you.

Kenny
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December 02 2009
Have you talked to Chase? They may be a little faster at giving you choices if they know you are going to walk away from it.
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December 02 2009
why not list the house for sale with an agent before you leave? You can still coordinate from out of town.
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December 02 2009
Profile picture for wetdawgs
If you are interested in a deed in lieu of foreclosure, you must contact your lender.   In some cases you may be responsible for taxes on canceled debt.
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December 02 2009
Profile picture for rdh
  • rdh
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I can't afford to make payments on the mortgage while waiting to sell, I'm with Chase and they are notorious for dragging their feet and stretching things out to be as long as they can be - how do you do a Deed-in-Lieu
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December 02 2009
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You might look into a Deed-in-Lieu.
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December 02 2009
Profile picture for wetdawgs
Talk to your lender about a short sale and get an agent who is experienced in short sales involved immediately.    There is no reason you can sell the house when you are in a new location.
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December 02 2009
 

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