i cannot refinance my home and my mortgage is set to to go and an adjustable in jan.2008..also I need a way

Asked by Jess, kissimee Sun Nov 25, 2007

to sell my house quickly what is the best way to do so because i do not want to go into foreclosure.

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Lorie Gould, Agent, Duluth, GA
Sun Nov 25, 2007
Jess...are currently behind on your mortgage or do you just know that you cannot afford the increase in January? If you can afford the current payments and you want to stay in the home, have you spoken with your mortgage company about renegotiating your interest rate? Mortgage companies are more approachable than ever because they are losing with all the foreclosures.

You need to contact a reputable Realtor immediately. I would look for experience in short sales. To sell fast you need to be below market. The agent may be able to give the mortgage company the right information for them to negotiate and work with you.
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Francesca Pa…, , Monmouth Cty NJ
Sun Nov 25, 2007
Oh, my JANUARY!! I missed that!

I agree with Sylvia, time to talk with more than just a Realtor.
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Francesca Pa…, , Monmouth Cty NJ
Sun Nov 25, 2007
Place it on the market with a Realtor . . . no time here to try any money saving selling tactics. Here are some suggestions.

(1) Price it at or slightly below market

(2) Choose a Realtor with an aggressive marketing campaign, not one that will merely put it on the MLS.

(3) Be sure the realtor is uses (a) enhanced Realtor.com with muliple pictures AND detailed descriptions.

(4) Allow open houses - while may sellers believe OH's are for the benefit of the realtor, I find that many buyers today using the internet prefer to remain independent until they are closer to being able to buy and open house attendance is up.

Good Luck!
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Sylvia Barry,…, Agent, Marin, CA
Sun Nov 25, 2007
Take Jim Walker's advise on the other post and get an experience Realtor to work for you as soon as possible.

As you are dealing with potential short sale (you can't refinance your home and mortgage is set to go up), you want to start giving your Realtor permission to talk to your lenders and start the sale process. As you know, there is limited time at hand and the market is slow around this time.

You need to educate yourself about market and the short sale process, talk to your accountant about the tax and other consequences, and get it going. Some lenders have a criteria about how long the house has to be on the market before a short sale is permitted. They don't make it easy. Price and market it aggressively. Time is of essence here.

Best luck!
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