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
You might find some answers in this topic: http://www.reiclub.com/forums/index.php?board=30;action=display;threadid=15310. Hope this helps.
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
Good luck with your sale as you can see I am having the time of my life on this rollercoaster
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.