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 buffetaz
Joined: 24 Aug 2009
Posts: 6
4.41 Dollars($)
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 Posted: Tue Sep 01, 2009 2:23 pm Post subject: need to get out of house what are all my options |
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| i have a house that i refinanced 3 years ago it was appraised at $400k and refi loan was $340k i now need to move so we can live where my children go to school house is probably worth $240k what are my options in getting out since i will move no matter what for my children so what are all my options and i live in Arizona. i can also afford my mortgage so hardship will not work. i would like to short sale but if i have to i will just walk which i do not want to do. |
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gunzijjistaff
Joined: 07 Apr 2009
Posts: 458
6.81 Dollars($)
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| Posted: Tue Sep 01, 2009 8:40 pm Post subject: |
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Hi buffetaz,
Welcome to our forum.
As you say,i think if you selling this house you will loose $160K.Here i have one option for you, Give your house on rent. If you wish to short sale it you can do it, but you loose property & $160K.
Thanks & Regards.
gunz.ijistaff
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wlan
Guest
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| Posted: Tue Sep 01, 2009 8:44 pm Post subject: out of house |
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| first of all i would loose 100k if i short sale i would probably loose nothing since i would short sale and no deficienies in Arizona. |
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fredwaltz
Joined: 17 Aug 2009
Posts: 60
1.12 Dollars($)
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| Posted: Tue Sep 01, 2009 9:03 pm Post subject: |
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| if you are loosing $ 100 k and by doing short sell you need to shell out the deficient amount.So in my opinion if you can afford that amount ,considering your situation,(as you want to move anyway) I will advice you to go for shortsell as it will not affect your credit score. |
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sunnyca2009
Joined: 04 Aug 2009
Posts: 1737
36.13 Dollars($)
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| Posted: Wed Sep 02, 2009 11:01 pm Post subject: |
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| Short sale will drop your credit score by 50 points |
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