Profile picture for youngestof7

Unemployed, behind in mtg, no equity, desperate for work, job offer 900 miles away?

Situation and house have gone downhill since I bought it for 279g last year. Out of work since April.  Tried to find tenants, alone and overwhelmed, job offer only chance at redemption. What to do. Walk away?  I have to leave in 1 week anyway. House in good location, good neighborhood, needs cleaning and cosmetics.
  • October 27 2012 - Medford
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (4)

Short sale!  Definitely.  Your agent can handle everything long distance.  Even documents can be signed electronically.  If you need a referral in your area, let me know.  Would be glad to help.
  • October 27 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I highly suggest you try to go the Short Sale route...plus as an added bonus besides the obvious (will hurt your credit less than walking away) you may be eligible to receive substantial relocation monies!

My wife is originally from the Massachutsetts/New-Hampshire area, and I pesonally know Realtors that her family works with in the area if you need a good referral please do not hesitate to contact me.

Best wishes from So-Cal and good luck
  • October 27 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Your Key Team
Walking away from the home outright will hurt your credit for the longest period of time. In addition to this it will put you in a position where your lender could come after you for up to 15 years. At this point you have several options. If you hire a real estate agent to rent your property to they generally charge one months rent. If you are able to rent your property for the right price you may be able to pay your mortgage and run a profit/have a tax write off. If this is not an option talking to an agent that specializes in your neighborhood and short sales might allow you get a short sale approved which means the lender will accept less than what is owed on the property and will forgive the difference. A short sale will affect your credit for 2 years however after that point you will be able to move on and if you do everything else right possibly even buy again!
  • October 27 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for wetdawgs
Chances are good you'd be qualified for a short sale.  If you can find an agent quickly the agent can take over after you've left.   A short sale is less of a disaster on your credit than walking way/foreclosing.

  • October 27 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.