should I tell the 1st and 2nd mortgage that I am trying to sell the house or that I plan to pay them, but just can’t right now? Should I pay them partially?
We have not been late ever as of yet. The 1st will be paid in full and the 2nd will have to short sale if we find a buyer. What should I tell each lender? (1st is with homecomings and 2nd is with SunTrust)
what don’t I tell them? should I tell them we are trying to pay them and are trying to sell the house with a short sale? should I get my wife who is a realtor to list the house or a 3rd party who is not biased?
where can I find investors/buyers to buy this home? great house with awesome upgrades, new pool, etc. 5 bedroom…just too expensive now. thanks.
should I tell the 1st and 2nd mortgage that I am trying to sell the house or that I plan to pay them, but just can’t right now? Should I pay them partially?
If you are having financial issues contact your lendors immediately. Many have programs that may benefit you. DO NOT KEEP THEM IN THE DARK. Pay every penney you can.
We have not been late ever as of yet. The 1st will be paid in full and the 2nd will have to short sale if we find a buyer. What should I tell each lender? (1st is with homecomings and 2nd is with SunTrust)
The same thing. Yes, we are in trouble, yes we are trying to sell. Can you help us?
what don’t I tell them? should I tell them we are trying to pay them and are trying to sell the house with a short sale? should I get my wife who is a realtor to list the house or a 3rd party who is not biased?
I can’t see any problem with your wife listing the house.
where can I find investors/buyers to buy this home? great house with awesome upgrades, new pool, etc. 5 bedroom…just too expensive now. thanks.
I am sure you love your house very very much. Stop. Be very very very realistic about what your home is going to sell for in the current market and how long it is going to take.
I’ll imply a whole lot from your previous post, as well.
If you just flat out can’t afford the house, then that is what you need to tell your lenders, both of them. The first may be able to buy out the second and give you a better interest rate.
Did your ARM just reset? It seems to me your payments are higher than normal on a 500K combined mortgage.
Don’t expect to finance any of the credit card debt into the short sale, the lenders won’t allow you to make a penny off it.
You’d be better shorting both mortgages to get a bigger discount and therefore a quicker sale to an investor.
But certainly you should call both banks and talk to them first, to see if they can do anything to help.