Back to Results
I am looking into selling my home - I separated in 2009, divorced in 8/2012 and have since had a child. At present, the home is solely in my name (deed was changed) but my ex husband is still listed on the loan. I pay the mortgage on a monthly basis and have never been late. I've met with 2 realtors - both told me the house will not sell for what I owe. (113k.) At that time, I obtained a secured loan - I have approx 7k in my savings account as a result. I'd hoped to fix the house somewhat, in order to have a better chance at selling and to be able to make up the difference in commission to the realtor. (priced at 4.5%) At this point, I want to just get rid of this home as it's far too much mortgage for me and I'm afraid it's going to just sit on the market for years. 1) Does a short sale sound like my best option? I've never been late on the mortgage payment but I really don't want my credit to take a hit. And 2) What should I do with the money in my savings from the loan prior to applying for my short sale? Will the bank look at the savings and decline my hardship/short sale application? Thank you.
Please enter a valid email address.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.
Please enter text in the "Enter the text to display" field.
Please enter text in the "Enter URL" field.
Please enter a valid URL.
Please insert a video embed only
Yes, deed is in MY name. Loan = both names.Last realtor was not really optimistic. House next door foreclosed or short saled - not sure which one - but went for 85k. Other similar homes in better/good condition probably go for 125 range.I would estimate the house would potentially go for 105ish, though I need 110 (roughly) to break even (using all of my savings) to pay the difference, paperwork fees and realtor commission.I just did MLS search and in the city (cary, nc) there are no homes this size under 125k with a same number of beds/baths and square footage. (In addition, this is an end unit townhome.)Edited to add: My ex is in no position to pay for anything. This house has been my financial responsibility since the split. He cannot make up the difference. If I kept tally, he'd owe my thousands and thousands at this point for the home. He offers no financial assistance for this home. His credit is already wrecked, so no issue there either - regarding a short sale.
Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.
For Sale: $169,900
For Sale: $869,000
For Sale: $275,000