Info On Help During Foreclosure
I am in a pre forlclosure position and would like some advise on what to do with a house that is 3000 square feet with pool, hot tub, sunroom, workshop, 4 br, 3and 1/2 baths, and nicely landscaped. Payments with t and I are 1685 and 3 months behind. I just want out. House appraised at 213000 and I owe 190000. Help!!! :cry:
Refinance, list with realtor, sell to investor, walk away and let the bank foreclose, the list goes on and on. You have many options available to you, and I'm sure that an investor in your area will be asking you for contact information very shortly. They should explain all the options available to you and you can decide what best fits your need from there.
Ryan J. Schnabel
P.S. I forgot sell it by yourself.[ Edited by rjs9352 on Date 04/20/2004 ]
As Ryan suggested you have a lot of options here. One more thing, have you tried to workout something with your lender? They want to foreclose on your house just about as much as you do.
Have you thought about lease optioning your house out, or selling on a land contract? You should be able to get enough down to repay the backpayments.
Good luck.
Thanks guys. I will explre all options. I keep hearing that the bank wants to foreclose as much as I do, however, you would never know it by talking to them on the phone. Thanks again.
How about putting a sign out front and in the papers that says, "Rent to Own", 10k down and 1,900 per month. Good/Bad Credit OK. Immediate Move-In, 4/3.5, Pool, Hot Tub, . . .
Maybe you can get 6 or 8k out of someone and make a little every month for your trouble.
OR
Go to a local investor meeting and let them know your situation. I am sure that someone would love to get into a 200k+ home with only 6k down.
Call Ken Perkins at VRFco. That is what I did a year ago. I saved my home, didn't cost much. Had a year of 0 times late, mortgage co, refinanced with bla credit because payments on time.480-545-7300, 480-892-5479. you can speak woith Ken, Ronnie or Dave. They were great!!