If you are current on your payments. You can do a short sale and only take about a 50 point hit in your credit. In most cases, depending on your curent credit score you could still qualify to buy a foreclosed property after the sale of yours.
Jennifer Kortan
612-207-0814 http://www.imarketrealestate.net
jenniferkortan@kw.com

Wow!!! "Let's make a deal"

Banks are not in the business of owning property. Their focus at this time is to get rid of the properties they are accumulating ASAP. Simply put, making a "trade" would not move them in the direction they need to go..................

As others have said, consider selling your home first, then go after the "foreclosure."

Good luck

The question is why would the bank want to exchange proeprties? The bank is most likely tied to an investor who has responsiblities for the property and resposnible for the bond holders of the note. To create a exchange, would entail a lot of paper work and alot of negotiations with a lot of parties. The banks are having a difficult managing there current foreclosed properties to sell, so there is no reason to make a process more complex than it already is. This especially true for only one transaction. Best thing to do is sell your property and purchase the other if that is what you want!


Keith Manson
First Weber Group
Certified Distressed Property Expert
Greenfield, Wisconsin

They are actually doing some loan modifications so that would probably be a better route to look into right now. Call the bank and see what they can do as they arehave incentive to keep you in your home.

Joel Friday
612-868-6287

Probably not,as the banks are trying to get rid of property not accumulate it or hold on to it.