 What are my rights? Its long but PLEASE help!? |
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 I just got a 30 day note to vacate the place I signed a 1 yr lease on due to foreclosure, do I have to leave? |
| I moved in 3 months ago, just got a notice that I have to be out in 30 days due to landlord foreclosure. I definately do not have the funds to do the whole moving thing again with only 30 days to do ... |
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| We are buying our first home should we talk to banks ourselves to be pre - approved or go through our real estate agent and let him work out the details with the banks?... |
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 As a tenant with an expired contract, how much notice do I need to give? |
Hi,
I had a 6 month rent agreement with my landlord. After the contract expired I have continued to live there regularly paying the rent. I now want to move out.
Q) How much notice ... |
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 Spanish Word for gun? |
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 What are the risks to me in allowing someone to take over payments on my mortgage? |
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 Who is in the wrong? |
| we've been renting this house since Nov.15,06.We pay rent on time every month, have never caused any issues. he house is really poorly constructed,the heat bill in the winter gets up to 400 ... |
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| hi would someone give me advice on how to open a checking account with bad credit. i cannot believe i cannot open a checking account. can i do my marykay business thru a savings account but my ... |
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| Im a new landlord and I'm tryin to learn whats common and whats not. please give any other tips you may have in helping me be ... |
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 I purchased a new home because my home builder promised us a family oriented community.? |
| It has been 3 years and to date we have no pool, playground, clubhouse, amenities. Can I sue them?... |
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 How soon can you get a mortgage after getting a chapter 7 bankruptcy discharged? |
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| Another dirty trick by the banks to steal our money do you agree?... |
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 Credit Scores and Mortgage Rates? |
| Let's say someone has 803 FICO score, no debts, 90k year salary, investments, and savings. Let's say the person is single with no co-borrower. If lenders listed daily prime rates of ... |
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JRoe | My home is worth 200k less than what is owed. We can't afford the payments and nothing is selling! Walk away? |
Nothing is selling in my area and I don't want to deal with a short sale. |
 |
 
glenn
|
I want to encourage you to re think a short sale. The other alternative is a foreclosure. That will look much worse on your credit and the mortgage company can still go after you for the shortage after a foreclosure (unless you have a non recourse loan). The shortage will include the legal fees involved and a lot of other fees and a foreclosure sells for less than a homeowner occupied home. the shortage could easily be double the $200,000 you are estimating. They can also choose to write off the shortfall and issue a 1099 to you for that same amount so that you will owe the IRS tax on that amount!
The mortgage company may offer to restructure your loan so that you can afford to stay there if you want or if you really want to just give up, offer the mortgage company a "deed in lieu of foreclosure" the legal fees won't be so high in that case. |
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mscarriem
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have you thought of deed in lieu of foreclosure, |
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Jamie G
 |
Walk away. You can't afford it and you will foreclose anyway. Try a short sale to save your credit if the bank won't re negotiate the mortgage. Banks hate foreclosures. It costs them as well and you might have some leverage now. Good luck with it either way. |
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julian r
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Walking away is the worse thing you can do the best thing would be to Either Short Sale it or if you want to keep your home apply for a loan modification which in some cases they will actually lower your payment and make it fixed. I am Realtor and can assist if you like if your in So Cal. |
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Jessi Z
 |
well there area few options. Bankruptcy is one. Although this sounds horrible, paying 200K more on a house than what is worth is going to put you horribly in debt. You will end up with bad credit either way. It is better to apply for bankruptcy then it is to have your home foreclosed on! |
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Bobbie
 |
unfortunatley I know what you mean and it is awful to struggle.Some say file bankrupcy,well if you file chapter 13,that will just be another monthly payment to the court.You could file chapter 7 I believe is the one and let the house foreclose and owe nothing.But I say to call your mortgage co. they are more willing to work with home owners nowadays.
good luck |
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vivicabowles
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Did you get one of those adjustable rate mortgages?
Try to contact your local government to see if there is any help for you.
If you did get an adjustable rate, try to refinance at a fixed rate. if you just walk away, you are gonna have a big problem on your hand. |
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TheShortSaleGoods.com
 |
A short sale is your best option. And it doesn't have to be hard. Just list your property for what you think you can sell it for and then submit the offers to the bank. Use The Complete Short Sale System to guide you through all of the paperwork and the negotiations. You can get it at http://www.theshortsalegoods.com. It's inexpensive and will save you a lot of time and headache trying to figure it all out.
Walking away or doing a deed in lieu of foreclosure is essentially the same thing. If the bank can come after you for a deficiency, the deed in lieu may make the deficiency slightly less. That's all it does. And most of the time, the bank doesn't want the property anyway and won't approve the deed in lieu. They have too many properties as it is.
And if you don't want to deal with the short sale negotiations yourself (I'd understand that), you can use a negotiation service company to do it, like Mortgage Mitigators, http://www.mortgagemitigators.com. |
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