Wishing you the best.
Another option is a short sale. Many people qualify for this and this can prevent a foreclosure. Note also that if you opt for a short sale, you may not be able to purchase another home for 18-24 months.
Give me a call with questions.
Micah Riley, REALTOR
Cutler Real Estate
Depending on your new job, you could just keep the home empty for a while and keep making the payments until you decide on a permanent solution. Short sale is an option but it may take a while and it will harm your credit. Typically with a short sale you will need to show hardship.
It's a problem many have faced. It's challenging and requires a complete look at your finances, life and situation. Weighing up the best route to take. Perhaps you could try word of mouth with family/friends and get someone in there to rent it for a year or two. Home values have increased and they may continue in the future. You may be in a better position to sell later on. I hope it works out for you!
You do have some options, among them are doing a short sale or renting the house out (if you want to be a landlord). Do you know for sure that you owe more than it's worth? Feel free to give me a call and we can discuss all of your options and determine the market value of your home.
No need for great desparation. Since 2008 this has been a common issue and one for which solutions have been developed and implemented.
What you must do is call, (if you are serious you will pick up the phone and call) a Cleveland, OH Realtor (r) who has a track record of closing distressed property sales, namely short sales, this year.
To accompish this, the REaltor(r) will need to be multi-dimensional, with the resources to truly compresss the selling time line.
Such Realtors (r) will raise their hand right here in the Q & A section of Trulia. If they provide a telephone number..call it. If the don't skip them. If they don't answer the phone, go to the next one.
What they are going to tell you is TRUE. You will think it an exageration and come on Trulia to second guess your agent by trolling for opionions from strangers on the itnernet. Don't do that. That will only compound your confusion and dissappointment. It will be a wild and frustrating ride. There will be no good faith parner on the other side. You must trust those you hire, and follow their directions to the T and immediately.
You are about to enter the Short Sale zone.
Buckle up! It's a wild ride.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
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