depending on when you refinanced your home, I'm thinking before the crash, banks could pretty much do what they wanted on a refinance and as long as it was not way out of market value. That is one reason why so many folks are under water with their homes today. The other is some bought their home just before the down turn and are now under water that way also.
But remember this, what the city values the property at has nothing to do with market value. If you are concerned about your homes value, call the realtor that sold you the home and have him do a market study of the area. You may not be as bad off as you think.
Howard Hanna Real Estate... more
Perhaps. Although number of closes year-to-date is about on par with this time last year (80 vs 87 per DABR) average sales price has definitely increased (from $86927 to $98576 ytd per DABR). Personallly, I've been involved in more competing offers in the last 5 months than in the last few years combined. Too soon to say whether this trend will continue, but certainly encouraging.... more
Wow! I'm sorry to hear that you are having trouble. I can sympathize as I missed out on the "Obama money" last year due to the same issue with a foreclosure. The best advice I can give is to be as patient as you can be, as you are probably getting a good deal on the home. If they just set this property up with a new asset manager, it can take awhile to get the ball rolling again. If you've had enough, you've had enough, so you should speak with your agent and go over your options. Try to stick it out!... more
Susan a short sale may be the answer but you both need to be available if you are both on the mortgage and deed. If he will not cooperate you may have to get an attorney to force him to sell the property or forclosure is an answer not the best one but an answer.
Here are a couple of places you can try for help and advice.
About Consumer Credit Counseling Service of the Miami Valley
Consumer Credit Counseling Service (CCCS) is a local, not-for-profit credit counseling agency, providing support, knowledge and tools needed to make informed financial decisions.
3131 S. Dixie Dr., Ste. 300, Moraine, (937) 643-2227
About HomeOwnership Center of Greater Dayton
HomeOwnership Center of Greater Dayton offers a variety of free and low-cost services to help Dayton, Ohio-area residents achieve and sustain homeownership.