Sorry but here we really do not have enough information to give any kind of advice or opinion.
Good Luck to you...
Edith YourRealtor4Life! and Chicago and Northern Illlinois Expert
Working always in the very BEST interest of her clients, buyers, sellers and investors alike
Edith goes the x-tra mile with a smile for her clients....
Talk with your bank and see if they will help you refinancing the existing mortgage.
See what the CMA's are going for in your area, and what you need to price your home for to bring yourself even or enough to get out and move to a new location.
You never know things could be better than you think they are once you do the research and know where you and the market around you stands.
It all depends on what your goel is for a out come, if in deed you owe more on your home than what it is worth, are there funds to cover the shortage, do you have to sell now. Hard to give you a answer without more details, give me a call or drop me an email and will be happy to councel you what is your best option.
Don Turner, 713-478-1121, firstname.lastname@example.org
If you are looking to purchase a larger home it may be a good time. Sure you will take a loss on this home but the bigger home will also be discounted by a similar amount so when the market turns around in the years ahead your equity will build faster.
Think about why you are looking to move and the answer will become clear. Best of luck to you.
REALTORÂ® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
I am a certified short sale real estate agent. Please note that everyone's situation is different and to sit down and discuss might give you other alternative options such as remodification; HARP program; short sale and other options that I will be able to guide you once I know clearly.
You are more than welcome to contact me to discuss what your option may be.
Thank you & Regards,
REALTORÂ®, ABR, GRI, SFR
Short Sale & Foreclosure Certified
REALM Professionals, LLC
Interview several agents until you are comfortable with that agent. Be prepared to provide any and all documents requested of you, such as last two years tax returns, past and current check stubs etc . You will need to be prepared fill out an financial form and a hardship letter explaining to the bank why you are requesting them to accept less than what you owe. Your agent will also need you to sign a form that gives him/her permission to discuss your account on your behalf.
You should be trying to sell already, unless you don't mind having a foreclosure on your record.