Re: 3 months past due in GA and relocated across country

Posted by OC Andy on October 01, 2007 at 20:25:16:

In Reply to: 3 months past due in GA and relocated across country posted by Alan on September 30, 2007 at 17:58:01:

Alan:

A couple of Suggestions for you:

1. Rent to Own the home - you can ask your realtor how this works. Get enough of an upfront option fee so that you can bring the loan current. In the current market, flexibility in your terms could mean the difference between getting the home sold and having it sit on the market until the sale date.
Also, depending on how much equity you have in the home, you could offer some owner carry financing - your realtor will know how this works

2. Short Sale - since you are already behind on pymts, have your realtor ask the foreclosing lender for a short sale package and get it submitted FAST - also ask the realtor to request a postponement of the sale date.

Since you're short on time here, you should move VERY quickly to avoid the trustee sale of the home.

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