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 gaskin_s
Joined: 31 May 2009
Posts: 1
1.63 Dollars($)
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 Posted: Sun May 31, 2009 5:05 pm Post subject: trying to sell house in todays market |
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| I was transferred to north carolina after company here closed. My house has been on market 6 months. We have dropped asking price 15.000.00 and are now listing it for less than what we owe on our mortgage, I am at the point of just walking away and letting the bank take it. The commute back and forth from Atlanta to Charlotte has put stress on my marriage and family. I have contacted my mortgage company on trying a short sale. But I also have a second mortgage too. Any advice. |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Sun May 31, 2009 7:45 pm Post subject: |
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Hi gaskin_s,
Though your first lender agrees for a short sale, you would still be liable for the second mortgage. The second mortgage lender will have the right to collect the dues from you. If you cannot pay the dues, the second lender would either garnish or charge off the loan.
Thanks |
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gunzijjistaff
Joined: 07 Apr 2009
Posts: 458
6.91 Dollars($)
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| Posted: Mon Jun 01, 2009 12:30 am Post subject: |
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Hi gaskin_s,
Welcome to forum.
I would like to advice you that, Today's market is having low rates so you cannot sell your home profitable prize. Sell you house while market rates going up (^). You can get best selling prize for your house.
Thanks & Regards. |
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