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I want to sell my home but up side down on mortgage.

Help.  I want to sell my home but I am up side down on my mortgage.  I am not facing foreclosure, behind on my mortgage, in a bad interest rate or any of those things to would qualify you for a short sale.  I simply need to move on.  I aslo really do not want to be a landlord.  Any little known programs out there that could help me out.  Any advice would be great.
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June 08 2012 - Fort Washington
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It sounds like you are frustrated, only aI am not sure why. What is the true issue that you are facing to cause you to even need ( not want ) to sell. Moving even when you can cover your mtg is a big step and a very emotional and stressful one at that. If you really needed to move on you would be open to any vehicle that would allow you to do so. Renting ,if you can keep the home and cover some difference is one solution. Then you can relocate to the location you need to and just set roots down there until you can watch the market recover enough to sell the old home. If the motivation is to just "bail and Switch " then you must think long and hard about the future ramifications. Short selling is not an iron clad remedy . We have yet to see the scenarios of what and who can come after you for the unpaid balances.EVEN WITH A RELEASE OF DEF. JUDGEMENT. If collection agencies buy the files, then it is possible that they will just sit and " dail for dollars" and harass past sellers and see who coughs up a payment to get them to stop calling. Whether they are in their rights to do so, or whether you have everything tied up from the sale, it will be stress and anxiety just to have to weed through it all and have them stop calling. What about your future ? Your credit scores, your employment opportunities? What if they change employment questionnaires to ask if you ever had a short sale? Do you think that tells something to an employees? Your level of committment to your word, you contracts, and your integrity. If there is a REAL hardship..there is no option...it must be done and let the chips fall where they may later in life. If you do not need to do it, and it is nothing pressing other than the lure of a bigger home ,sit tight and wait. ..or rent and have a slow bleed on the other home,until you can sell and recover from it. " ACT IN HASTE REPENT IN LEISURE"
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June 10 2012
I am sorry you are going through this...its a tough time in areas of the country. Ofe's advice was the best....and also take a look at the HARP program too. Talk to a Realtor and talk to your lender. Lender first to see if you can refinance.
Best of luck to you....
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June 09 2012
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user800312  contact me ociegibson@yahoo.com I might be able to help you out. I invest in that part of Maryland. shoot me an email with some details.

I also know of an attorney who is a short sale specialist.
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June 09 2012
We have grown used to instant gratification, I want to move, I sell the house and move on.  Times are different and a lot of people who find themselves like you, who wants to move on, sort of speak, but are upside down, rethinking their wants and needs and postponing the move.  If you do not qualify for a short sale and do not want to be a landlord (renting your property) try to redesign your existing home in a way that its more pleasing to you, at least for now.  I think that the administration is getting rid of those little known programs.  because they are not only costly but ultimately are a drain on the tax payers' pockets.
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June 08 2012
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I don't know of any little known programs, but you might want to consider at least making your payment as low as possible with HARP if you have no other options right now. You do not have to show financial distress and it does not affect your credit in any negative way.

Some people do not want to be landlord, but if you can lower your payment enough, it might make more sense than walking away or fighting for a short sale. You could try to ask for a principal reduction also, but those seem to be pretty rare.
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June 08 2012
Have you sat down with a REALTOR to explore the possibilities? I understand you are up-side down on your Mortgage however you need a Comparative Market Analysis to determine what your home would sell for. Have you spoken with a Certified Short Sale Expert? If you have any questions, please feel free to visit my website and we may be able to help.
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June 08 2012
My advice would be to find a Short Sale professional in your area who can sit down with you and review all of your documentation.  Every bank is different, and depending on who holds your mortgage, they may be able to work with you to get the home sold so that you can move on.  A full understanding of your picture with an experienced Short Sale agent may uncover options that you weren't aware of or had not considered.  A very popular designation for agents, who are very well trained is CDPE.  If you go to their website, you can find an agent in your area with that designation and speak with them.
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June 08 2012
 
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I want to sell my home but up side down on mortgage.
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zillow you are very wrong
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