Foreclosure in 11706>Question Details

Lken527, Other/Just Looking in 28079

Home on Long Island in foreclosure process. Home is empty.I already had to file bankruptcy.Thought realtor was taking care of sale,but no.any advice?

Asked by Lken527, 28079 Sat Apr 30, 2011

I had to move from Long Island because of financial difficulty. I was left with a lot of debt from ex and had to file bankruptcy. I thought a realtor was handling the house but has not done anything. The house is in foreclosure process. Both me and my ex are on the deed. My ex could care less what happens to it. I would like something done with it before it forecloses. There is a first mortgage and line of credit on house. Can anything be done before it forecloses?

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You do not even have to sell the house. You should ask your bankruptcy attorney to confirm, but if you're in the process of filing for bankruptcy (I assume it's chapter 7), you should be able to include the house and not even have to go thru the process of a short sale or foreclosure. Good luck!
0 votes Thank Flag Link Wed Sep 21, 2011
You can apply for a short sale to lender , however Realtor can't proceed UNLESS there is a sales contract presented to the lender

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Sat Apr 30, 2011
Yes, you can try to do a short sale and keep foreclosure off your credit. We are a professional short sale service and would be happy to explain the process to you. Please call us directly to discuss your specific situation. Our services are FREE to homeowners. We look forward to hearing from you.

Eli Givoni, Director
Short Sale Department, LLC
561-361-1909
info@shortsaledept.com
http://www.shortsaledepartment.com
Serving all 50 states

MARS Disclosure for General Commercial Communications
IMPORTANT NOTICE:
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
0 votes Thank Flag Link Sat Apr 30, 2011
In order to best protect yourself and any other assets you may have, do consult with your attorney before considering anything. Rather than foreclosing, do consider a short sale--a short sale occurs when hardship is proven to the lender and one can sell for less than owed....again, consult with your attorney beforehand..
0 votes Thank Flag Link Sat Apr 30, 2011
Franklin is right on the money. Try to do a short sale, if you can & still have time. Talk to the Bank & your Agent ASAP. Best of luck -
0 votes Thank Flag Link Sat Apr 30, 2011
Speak to your Realtor would be the very first step in getting answers. It can be listed for Short Sale which in most cases the bank would prefer. First check with you bank to see if you will qualify for a Short Sale. Since both you and your "ex" are on the deed, it will require that both of you agree to the Short Sale Process and will follow up with the necessary paperwork. If you spoke to a Realtor, is the home listed for short sale?
0 votes Thank Flag Link Sat Apr 30, 2011
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