how do you sell your home when you are behind on your mortgage?

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7 Comments
  1. Reply
    red riter
    November 10, 2011 at 11:39 am

    Offer your Real Estate agent financial incentive (extra money) to sell your place fast.

  2. Reply
    blueridgemotors
    November 10, 2011 at 12:14 pm

    Until a judgement has been made against you, it is still yours to do with it as you feel is right for you.

  3. Reply
    Bobo
    November 10, 2011 at 1:13 pm

    If you have lots of equity, then sell it quickly by pricing it below the competition. If you are upside down, then talk to your lender and discuss a short sale. You may also try to talk to them about freezing rates or explaining any hardship you have encountered.

  4. Reply
    heyteach
    November 10, 2011 at 1:15 pm

    You need to contact the lender and coordinate with them because if you’re behind it’s not really “yours” and you could cause an agent and a potential buyer a lot of problems.

  5. Reply
    IronHorse
    November 10, 2011 at 1:46 pm

    You have several options. A couple have been give in previous answers. Another option is to contact a real estate investment company. They often come in and offer you a fast cash buy out deal!

  6. Reply
    will_work_for_trump
    November 10, 2011 at 2:00 pm

    If you really wan to sell it quickly, find the lowest priced comparable home in your area and price yours 10% under that one. Also, work with a realtor who can get you in the multiple listing service, etc. Good luck.

    Jim Kriby, CPA/PFS, CFP, CFS

  7. Reply
    Mortgage Expert
    November 10, 2011 at 2:31 pm

    The interest will continue to accrue if you are not making your payments. You will need to call to obtain a payoff statement. You may need to do this more than once. I would do this now. and then again when you get closer to selling your home. You will need to sell the home for more than you owe otherwise you can ask the lender for a short sale, which is a long drawn out process. A short sale is when the lender accepts less than what is owed only if the property is not worth more than the purchase price.

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