Hunt Real Estate, ERA Lucas Division
If there is anything we can do to help, let us know. We get houses ready for renting and can also recommend some good property management companies.
It is good advice to check with a lawyer and an accountant.
Jacqueline Drake CRS LTG PNM
Jacqueline Drake Realty
I would contact an attorney, and also speak with your tax accountant to determine what ramifications there may be, and then decide on the best resolution. It may cost you a little now, but if it saves you in the long run, it will be well worth it.
I have a home owner in your current situation, there are multiple options!
First we would need to contact the bank . From what we know for now the banks are forgiving the difference on the sale and what is owed on the loan. There can be problems however if homeowners used the loan for other purchases. However, I highly recommend seaking legal advice from an attorney.
Feel free to call me and we can discuss them at your convienience!
I have many references at your request!
They had a second home and the bank did agree to a short sale and forgive the balance. This was because there was no second mortgage on it and all of the money was purchase money.
If you would like us to see if a short sale might be realistic, please email me and I will call you. We have done quite a few short sales. We don't actively look for them, but if we think we can help someone, we will look at the situation.