need out of a house

Guest

I bought a house in California with a now ex-boyfriend in 2004. After we broke up in 2007, I moved out. We wanted to ride out the crisis and see if we could break even, so we found a renter to take on my part of the mortgage. But he is now moving out.

Because the ex can't afford the mortgage on his own, I feel like we need to get rid of it. With the renter moving out, we need to make a move soon since paying for rent and a mortgage will quickly eat up my savings and I will be forced to default.

What do we need to do to get a short sale?

If we can't find a buyer for a short sale, what is our next best option?

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1737 36.13 Dollars($)

Well, you need to get a relator who know how to do short sale and has experiance

So then he can guide you through the steps for short sale. but this may be a long process, since the lender wants to see that you listed the house for a good price and coudl nto sell it and thats th ereason you want to do short sale

In additon to that you need to amke sure that the lender agrees to forvive the deficient amoutn or you will have to pay that money later

If this does not work, you can see if the lender agrres for Deed in lieu

gmakerley · Posted: Fri Sep 25, 2009 3:22 pm Post subject:

you definitely need to speak with your lender's loss mitigation department to determine their requirements. any short sale must be approved by the lender, after all.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1737 36.13 Dollars($)

Thats correct

But a Realtor who has done this before can help you to guide in the right direction and probably can handle this on behalf of you and negotiate with the bank about the shortsale

greggwyburn · Joined: 13 Sep 2009 Posts: 60 0.03 Dollars($)

What is the stand of your Ex boy Friend? is he in line with you?

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1737 36.13 Dollars($)

Greg please read the post again

It is very clear

kim090807 · Joined: 20 Sep 2009 Posts: 52 0.00 Dollars($)

I think you should negotiate with lender and cofirm the details.

gmakerley · Posted: Sat Sep 26, 2009 9:30 am Post subject:

sunny you suggested that greg read the post "again." i don't think it's especially clear that he read it to begin with.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1737 36.13 Dollars($)

What can we do George

We can just suggest and it up to the person who reads it, how they interpret the messge

gmakerley · Posted: Mon Sep 28, 2009 7:23 am Post subject:

don't i know it!

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