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Answers (5)
- Maureen Francis _MI_
- Contributions:24
Sorry I did not see this earlier. A short sale is one of your options. You put it on the market with a Realtor and submit a short sale package to the bank. The bank decides if it will accept the offer. Depending on the situation, you negotiate with the bank for them to forgive the shortfall.
Here is an article from my blog about short sales. They are not uncommon in Birmingham these days.
If you are moving away a short sale is probably your best option.
Here is an article from my blog about short sales. They are not uncommon in Birmingham these days.
If you are moving away a short sale is probably your best option.
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
5) get a roommate. It decreases your payment by the amount they pay in and you still have a place to live. (Usually 25-50% of mortgage in my experience - depending on the house, neighborhood, market, etc)
- nycbpc
- Contributions:189
3) Rent it out. Chances are, the rent will not cover the total cost, so you still have to pay the difference
4) Short sale
4) Short sale
- Tiffany Bond, "TiffanyBond"
- Contributions:3010
What are your goals? More info is needed on your situation to give you any valid feedback.
My house is underwater and I can't even refinance, what are my options?
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