WILL THE BANK HELP WITH CLOSING COSTS

LINUS1994 · Joined: 24 Mar 2008 Posts: 1 1.38 Dollars($)

I CURRENTLY HAVE MY HOUSE FOR SALE, I HAVE TO RELOCATE FOR WORK. I BOUGHT MY HOUSE 2 YRS AGO AND MY HOUSE IS CURRENTLY LISTED FOR THE SAME PRICE I PAID. I ANTICIPATE LOSING MONEY ON THE HOUSE, MY QUESTION IS CAN I NEGOTIATE WITH THE BANK TO HAVE THEM PAY THE R.E. BROKER COMMISSION AND CLOSING COSTS? I ALREADY KNOW THAT I WILL GOING INTO MY OWN POCKET TO SELL THE HOUSE, ITS JUST AN QUESTION OF HOW MUCH. ALSO WILL THIS HURT MY CREDIT SCORE? I SEE ALL THESE ATTEMPTS TO HELP PEOPLE THAT ARE GOING TO LOSE THEIR HOUSE ANYWAY. WHAT ARE THEY DOING FOR THOSE WHO ARE JUST GETTING SCREWED AND ARE TRAPPED IN THEIR HOUSES? IF IT HELPS FOR THE QUESTION MY MORTGAGE IS WITH WELLS FARGO.

jameshogg

Hi Linus,

Welcome to forums.

I suppose you are asking about the bank who's financing the house for the buyer. Yes, you can negotiate with the bank to pay a part of the closing costs and commission. Depoending upon the costs and their strategy, the bank will take the decision.

Thanks

ckalvesmaki · Posted: Tue Mar 25, 2008 4:52 am Post subject:

What you are asking for is called a short sale......however lenders view it the same as a foreclosure...so you may have issues getting a new mortgage when you relocate.

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