When there is a lien on the home, and the maket value of thehome is less than the lien amount in addition to outstanding lien .
It would entail negotiating with the lien holder to accept the sales proceeds after paying off all the mandatory expenses such as payment of outstanding property taxes, sales costs, toward satisfaction of entire outstanding lien debt.
Upon receipt of the offer, you would need to involve the lender/lien holder in accepting/rejecting offer and seeking approval of short pay terms and conditions. Unless, the short pay sales proceeds are acceptable to the lien holder and you, sale upon the home could not be completed.... more
Since home prices in some very good Palos verdes areas have stabilized in Price, you may want to consider buying. With a property swap, you may not get the best value for your townhouse and they still have closing costs associated with it. You could look at the Eastview section of Palos Verdes for reasonably priced homes. I would be most happy to assist you to find the right property for your needs. It is very possible after talking to you, a trade up with a house swap may afterall be the right option for you. My business is based on the premise of understanding my clients needs and helping them make informed decisions that are in their best interest. If you are interested in buying and selling strategically or if you just need some intelligent councel, call me at 3104212841 or email me your number at: firstname.lastname@example.org... more