Foreclosure in 59752>Question Details

rs, Home Seller in Three Forks, MT

Our house has been on the market for over a year now ... We've always made our payments on time, but it's

Asked by rs, Three Forks, MT Thu Aug 6, 2009

struggle everymonth. Now I an being laid off and my husband is going to be in 6 weeks. We want out of our house with the least amount of damage and debt on our part. What are our options? We need to get out of our hose in the next two months. Any legit advice is welcome.

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6
Michael Schreiner’s answer
RS- Along with all the other avenues that have been posted; there is the option of a Deed in Lieu of Foreclosure, I attached a link for you to read up on if you so choose. I am not an attorney so please take this as friendly advice and not legal advice.

Best of Luck, Michael
0 votes Thank Flag Link Fri Nov 13, 2009
In this market a house has to be price 'right' to sell. Most buyers are looking for great deals. If you purchased your house at the height of the market ( in the last couple of years ) you may owe more than it's worth. If that's the case you should contact a broker in your area and discuss options. Know your mortgage payoff prior to calling the broker. He/she can explain 'short sales' and you can then discuss your options with your lender.

Best of luck to you, very sorry to hear of another homeowner in distress.

Regards,
0 votes Thank Flag Link Thu Sep 3, 2009
I hope your situation has gotten better for you. Some of my advice for you is to gather all of your financial documents and get them into your financial institution as soon as possible, if you have an agent make sure you get an agent who has experience with short sales because to the untrained eye they can be very daunting. I wish you the best of luck!
0 votes Thank Flag Link Thu Sep 3, 2009
I'm sorry to hear about your situation. The first thing you should do is talk to a professional who can discuss options with you. From what you write, it may be that a short sale might be an option, if you do not have enough equity to sell at a price that a buyer would agree to. You also have several other options and you need to find the best one for you. It is very important that you speak to a realtor or other professional who is familiar with situations such as yours. If you do not know of any short sale realtors in your area, try finding one on http://www.cdpe.com . This website is a network of distressed property experts who can help point you in the right direction. Although I am not in your area, I have a website with tons of free information that you can access below. Good luck and God Bless you!
0 votes Thank Flag Link Wed Aug 12, 2009
Find a good real estate agent from the Three Forks Area. Tell him/her about all your concerns. And then, listen to them. The real estate professionals in Montana are very good. If you don't listen and heed there advice you will be wasting valuable time, both yours and theirs. Good Luck.
Terry Pietron, GRI, ePro
Century 21 Glacier Gateway
738 9th St W
Columbia Falls, MT 59912

(406) 892-6585 Office
(406) 270-7894 Cell Phone
(406) 892-6588 Office Fax
tpietron@hotmail.com
0 votes Thank Flag Link Wed Aug 12, 2009
Sorry to hear your situation. Try to do short sale, in that way you can avoid foreclosure. Find a local real estate agent who is experienced in closing short sale. Consult with your CPA or tax attorney for tax ramifications. If you cannot find any realtor with short sale experience, let me know, I will try to find any agent in your area who knows about short sale.
0 votes Thank Flag Link Thu Aug 6, 2009
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