Can You SHORT SALE YOUR own HOUSE?????

Foreclosures, Short Sales, Tax Foreclosures
1

Is it possiable to short sale your own house…I have a freind that is willing to help me out. (Put everytrhing in his name) I’m not behind yet but quickly heading there as my OT at my job dried up. Could I miss 3 months of payments and then have my Friend short sale with my bank. I owe $270k and the house should sell for in the $275,000…range. Maybe more if I wanted to wait for 6 months. The first and second are both with Countrywide… My freind is willing to give me any of the profits that he makes less $5,000 for doing the deal…he wants the practice. Also, what if they did not accept the short sale…could I make up back payments and keep my house. I know a lot of info…PLEASE HELP. Newbie

2

You might find some answers in this topic: http://www.reiclub.com/forums/index.php?board=30;action=display;threadid=15310. Hope this helps.

3

Thanks for the link…but it looks like her situation is a little different. I guess I wanted to know if what I would be doing is legal? Or Not… Thanks

4

Good luck with your sale as you can see I am having the time of my life on this rollercoaster

5

Thanks

6

You can sell your house if you cannot afford the payments. Maybe you can lease option it.

The alternative method you mentioned could get you and your friend in jail.