We're upside down on our house, so the agent sells it short, what can we do now -- can't buy!

Asked by J Mario Preza, Daly City, CA Thu Jan 9, 2014

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4
Kate Fomina, Agent, San Francisco, CA
Tue Apr 15, 2014
Dear Mario, if you would like to purchase, there are loans available for people in your situation. You can get a loan 1 day after your Short Sale. Feel free to give me a call for more information.
0 votes
John Oldfield, Agent, San Francisco, CA
Thu Jan 9, 2014
Mario, are you asking for yourself as the owner or on behalf of your client?
0 votes
Gabriel Rojas, Agent, San Francisco, CA
Thu Jan 9, 2014
Hello J:

Is the home in the SF city/county limits? If so, and with our current market conditions being where they are, have you done the research using recent comps, etc to figure your estimated sales price first? A lot of people that would have been upside down just over a year ago are able to walk away breaking even or with a profit these days. Obviously, each persons' case is different but if you need help coming up with some projections I'm happy to help with no strings attached.

All the best and have a happy and healthy 2014!

Gabriel
0 votes
Laura Coffey, Agent, Santa Clarita, CA
Thu Jan 9, 2014
Either you rent or stay in your house until you have a profit to sell standard. You can also try getting your principle loan reduced or your rate through your bank.
0 votes
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