Military Orders and Selling

Profile picture for pmm0714
We have orders to move in November.  We want to sell but owe more than our house is worth.  What can we do?  We could probably not rent for what we pay monthly?
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May 21 2010 - Lemoore

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Profile picture for Life Smith
There is know telling what your numbers are. Military officers dont live in one place for long. Rent out what you can and pay out of pocket the balance, but dont be late and dont Foreclose. 
You have to look at your Military career with open eyes. Officers move all the time state to state. Get a Real Estate team to help you not weary. Your home base has people moving in and off the base, Rent to . Be a resorce for other Military families. It may not be that bad . Think about renting it out.
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May 21 2010
Profile picture for rockinblu
First, thanks very much for your service, and I'm truly sorry for your difficulty.

The possible three options that I can think of that might be worthy of investigating  are HAP , deed in lieu and a short sale.

If you do a short sale, not only do you need an excellent agent, he/she should also be well versed in the short sale process. Below is a link to a blog that may help you find a good agent. However, in the interview questions included in it, add some serious questioning about how many short sales they've managed to get through and close on. Good luck.

http://www.trulia.com/blog/rockinblu/2008/12/i_ve_got_my_fingers_cros
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May 21 2010
 
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