Archive for February, 2010
Can I Sell My House To My Mom For Half Of What I Owe On It?
Posted by: | CommentsI owe $432,000 on my house. A couple of the houses in my neighborhood sold for half of what was owed on them mainly because owners had lost their jobs and wanted to avoid foreclosure. I’m going through the same but I want to stay in my house. Can my mom buy it from me for half of what I owe on it that way I can still stay in the home and pay her the rent?
I Have Already Received A Summons To Foreclosure….?
Posted by: | CommentsI have already received a summons to foreclosure, This realtor/investor will do a short sale on my property. Question- Is is Ok to give them power of attorney over my property?? Also, they will collect the rent from my tenant since they tell me, it is necessary to have legal control over everything to avoid any sues or complains with the tenant.. Is this ok to do??
Can I File Bankruptcy To Avoid Forclosure And End My Mortgage?
Posted by: | CommentsAs a last last result is it possible? I can no longer pay for my mortgage. I have been trying to sell my home and I will next try a deed in lieu , should it fail I will have less options. i want to know all teh options besides foreclosure. And please dont tell me to stay in my home. I need real answers from realtors or people who have been in my shoes.
Can I Avoid Forecloser?
Posted by: | CommentsI bought a home four years ago through owner financing, also called seller financing. I have fallen behind five or six payments but now owe only two payments of $510. I can make the last two payments this month; however, the seller has notified me by mail that he is “accelerating” the note, and the case is to go to court on June 2. My question is, can I simply make the last two payments, which will make me current, and avoid foreclosure. I’d hate to lose the house, even though we moved into another home last August. I’d hate to lose all the equity in the first home. I’d also hate to have the foreclosure appear on my credit report. Is there anyway out of this mess? I live in south texas and texas laws apply but I don’t know where to look online to see if I have any rights.
Is It Possible To Help A Friend In Foreclosure And Become Part Owner?
Posted by: | CommentsI have a friend in Corona, CA who is yet another statistic in the subprime home financnig fiasco. He purchased his home for $525,000 2 years ago, and it is now worth about $400,000 and still potentially falling. He plans to walk away.
I am looking to buy a home. I have about $20,000 I can use. Is there any way I could use that and refi with him, and we both own the house? To kind of help bail him out and avoid foreclosure? A benefit to both the bank and us. Although that would also seem like a short sale to himself…Maybe only the bank can answer that but maybe an experienced banker is on here and knows the insides of current home financing situations.
Thanks