Asked by Doreen Glennan, Georgetown, TX • Sun Nov 20, 2011
We own 2 properties, one we have deed for; other is primary residence. In current market if we sold the primary, after all costs we would have to come up with 20 to 30k most likely( so that is underwater). Since we will not have the cash until the first property sells we were told we must list primary as a short sale( not on market because of this). We are not behind on our mortgage, but we just do not have the cash if the primary were to sell first. Therefore, we only have the free and clear property for sale. Does anyone have advice? I thought we could possibly borrow (equity)on the clear/deed property if our primary sold first, but credit is tighter now ( ours has been good) but I have heard horror stories from folks in better financial shape than us about financing.
Real Estate in Aurora
Popular Categories in 60502
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!