Financing in Johnson City>Question Details

Kemp, Both Buyer and Seller in Lancaster, CA

what options do I have if I am upside down on my loan and I need to move?

Asked by Kemp, Lancaster, CA Fri Jun 15, 2012

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6
Basically your best options are lease, lease purchase, or a short sale. Each one has its benefit and its challenge but when your in the position such as being in a negative equity situation you have to see which fits your individual need and timeline.
0 votes Thank Flag Link Wed Jul 22, 2015
I can help you. I am in Johnson city area. Short sale is one way. I have done over 100 short sales. There is one bank I will not do a short sale with. But most are fairly good to work with. Maybe you might like to do a rent to own too? Give me a call (you know) 444-3708
Visit my website for more information too!! http://www.YourNextPrettyHome.com
Thanks!!
0 votes Thank Flag Link Sat Jul 19, 2014
I am looking for a house or trailer to rent $700 or less, need Johnson City area would like near ETSU medcenter area, where is your place.
0 votes Thank Flag Link Thu Oct 31, 2013
You can speak to your currnet mortgage company about pursing a short sale. You would have to submit documentation for them to review to determine whether or not you have the required hardship.
0 votes Thank Flag Link Sat Jun 16, 2012
Why do you need to move? If it is job related, or due to some other hardship such as a health concern or family matter, then you should contact a realtor right away and list your house for sale as a 'short sale'. A short sale occurs when the homeowner owes more to the bank than the house is worth and asks the bank to accept less than what is owed to satisfy the debt. A realtor will be able to help you determine whether you should qualify for a short sale. Try to find someone with either the SFR (Short Sale and Foreclosure Resource) or CDPE (Certified Distressed Property Expert) designations, or at the very least someone with experience in negotiating short sales.
0 votes Thank Flag Link Sat Jun 16, 2012
Hi Kemp,

You can either rent your house out or attempt a Short Sale. If you are interested in attempting a Short Sale, contact a local Realtor to assist you.

I am attaching a link for you so you can see more information on Short Sales: http://www.shortsalescalifornia.org

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Fri Jun 15, 2012
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