---

Cant sell property!!

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
PPARAS Joined: 24 Nov 2008 Posts: 1 1.00 Dollars($)	Posted: Mon Nov 24, 2008 5:50 pm    Post subject: Cant sell property!! Like 0 Dislike 0 We have a beautiful home in San Antonio, TX. Unfortunately the military has ordered us a new change of station (PCS) and we have to be at the new bas by JAn. 30th 2009. The house has been on the market and people have come to see the house and they say it's beautiful and clean and nice. But no offers yet! If we can't sell this house what do we do? I don't want to go into foreclosure, we aren't even trying to make $$ on this home. We're selling it for way under market value and we just want to pay off Citimortgage! What are our options????
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Nov 24, 2008 9:27 pm    Post subject: Like 0 Dislike 0 Hi PPARAS! Welcome to forums! Have you listed the property in the market? You can consult with the lender and try for a short sale or a deed in lieu. In both these processes, you will have to give away the property to the lender and he will give you a note saying the debt is cleared off. Then he will try to sell the property in the market and recover the debts. But there is a chance that he will have to sell the property at a lower rate. In case of deed in lieu, the lender will forgive this deficient amount but in case of short sale, you will have pay that to the lender. I think you should speak to the lender about these options and see which one he agrees to. Feel free to ask if you have further queries. Sussane

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0