Re: Thinking of foreclosure :-( in CA (Sacramento)
Posted by E on October 26, 2007 at 00:46:22:
In Reply to: Re: Thinking of foreclosure :-( in CA (Sacramento)
Posted by Sad_Depressed on October 25, 2007 at 19:15:46:
Hey, do not feel bad, you are not the only one in that situation, your family needs you more then ever.
It looks like you have good credit and you should try to keep it, you worked hard for it!
Yes the banks are willing to work with you, they are not in the business of reselling Real Estate. Give them a call and try to work something out or have an agent,friend or investor you can trust to speak on your behalf.
You will have to take a hit one way or another, your credit or your lifestyle. Save your credit talk with the bank.
The other solution would be a short sale, you have to prove a hardship on your part that you are not capable of making the payment with your finances.
You will have tax issuses if you go that route, you will owe what ever the discounted amount is. If you do it right you can have the bank waive that part so you owe nothing and keep your credit, the bank has to agree to it in writing.
Hope that helps.
Pick up the book "Think and Grow Rich" by Napoleon Hill---The 17 principles of personal achievemant, Keys to Success by Napoleon Hill and "The Secret" by Rhonda Byrne
The Books by Napoleon Hill are my life savers they keep me on the right path when I start to think negative.
I have nothing to sell, just trying to help!
E.
REI Consultant
NRSWORKS
Follow Ups:
