Foreclosure in Illinois>Question Details

Jenn, Home Seller in Holly, MI

Our condo in Michigan has been for sale for a year and a half with no bites. We're about ready to let the bank have it as we're struggling.

Asked by Jenn, Holly, MI Sat Jan 19, 2013

Not sure what else to do, as we've tried not to be "those people" that end up with a place going into foreclosure because we can no longer afford 2 mortgages. Any advice on what we should do? We're on a contract with a mortgage broker to sell it.

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2
Ron Thomas’ answer
If you have been trying for 1 1/2 years,
then your PRICE has been too high:

You are trying to recover what you owe, and it is not worth THAT MUCH.
You have few choices, because someone has to come up with the difference in cash.
Talk to a Realtor.
0 votes Thank Flag Link Sat Jan 19, 2013
How about trying to do a short sale before letting the home go into foreclosure? Have you attempted to refinance the home with a lower interest rate and possibly lowering your payment to something more affordable?
1 vote Thank Flag Link Sat Jan 19, 2013
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