Home Selling in Barnegat>Question Details

kvg20, Home Buyer in Howell, NJ

Can anyone help my sell my house in Barnegat that is underwater?

Asked by kvg20, Howell, NJ Wed Feb 5, 2014

I bought are house in 2004 for 240,000 100% financed. As most of the country I am now underwater. I believe I still owe 230,000 because we pulled some equity out when we refinanced are original loan. We both commute up north myself Howell, my wife Red Bank. Also my daughter from a previous relationship lives in South Amboy. The commute is physically, emotionally and financially killing us. We bought originally down here because it was what we could afford and we thought the market would continue to climb. In 2004 the houses in our neighborhood where selling for close to 300k. We had a plan to move back to Howell with the money we made from the sale of this house. How can we sell our house and buy another one with the least amount of cost to us. We really need to move from this house in Barnegat. Is there anyone out there that has dealt with this type of situation that can HELP US!

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Answers

5
Don't do a short sale, it's a foreclosure and you won't be able to buy another home. You'll be going from your home to a rental, if the landlord overlooks your credit score. I did a short sale last year, worst mistake.
0 votes Thank Flag Link Wed Jun 4, 2014
Hi, I have dealt with this situation numerous times. Basically you will need to do a short sale. The banks are willing to work with homeowners but you will need to provide specific documents to the bank. Fell free too contact me and we can talk further. Thank you, Todd
0 votes Thank Flag Link Wed Apr 2, 2014
First you need to find out what you owe. Call your lender. Then get a market analysis of your home in barnegate to see what it's worth.
Once you have that info you can see what you might be able to do in Howell. You also might consider brick or wall twp or tinton falls. If you can't afford to buy maybe you rent? Maybe find something with owner financing or do a lease purchase.
It's hard to give advice without more info.
I would be happy to help. Reach out to me via trulia or my website below.
Web Reference: http://Www.dianeglander.com
0 votes Thank Flag Link Thu Feb 6, 2014
Its a tough spot that a lot of people have been in. I recently put together a package to help people in this situation, if you would like to discuss this further you can contact me at 732 600 1570 (cell) or wtroy@veltrirealtors.com to setup an appt. to get some more specifics and figure out a solution.
0 votes Thank Flag Link Thu Feb 6, 2014
We'd be happy to sit down with you and discuss your options.
Call my cellphone 609-709-2866


Curtis Lee
Broker-Salesperson
Prudential Zack Shore Properties
Office: 609-597-6464
0 votes Thank Flag Link Thu Feb 6, 2014
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