I live in Miami Florida area. Also note that this is an investment home - speculation that went bad. The builders and the bank were the ones that really ripped me off in the first place. But I do not want that bank to be able to put a lean on my other main home which does have some positive equity. I want a Lawyer who can tell me what types of accounts or assets that I should protect of pay off prior to doing this Short sale of my other house. Also what is the best case senario on how bad my credit will get ruined. I currently have a 750 score. But this is 150k loss. There is no way that this house will go back up in value that fast. Credit is important but I cannot afford to loose $150 K and I cannot afford to keep making payment to this house anymore. I already work 2 jobs and I cannot make enough money so it is either a Short Sale, Loan Modification or a Walk away foreclosure that I am having to pick from.
sell+home+fast 18th August 2009 5:15 am
Buy Home No Credit
Yes, blames other and sue. Good job!
Find a way to hold on to the house for 2 years and you’ll be fine.
House For Sale By Owner 21st August 2009 1:00 pm
Buy Home Bad Credit
Try talking to a Bankruptcy lawyer, but in general if the loan has lost half its value a lender may choose to take it to foreclosure auction over settling for half
Sell By Owner 22nd August 2009 2:10 am
Buy Home Bad Credit
David, this is an investment property. You can short sale it, but you will still owe the rest of the money. The only way to not pay them back is to file bankruptcy, which will not likely be possible since you own other assets that can cover your loss.
This is not your primary residence, you will receive no special treatment.
austin dwi 23rd August 2010 2:51 pm
As we’re on I am thinking of short selling a home that I paid 300k for it is now only worth 150k. I need to find a lawyer? | No Qualifying No Credit, Get to know of any other hidden costs like consultation fees among others. The fees should preferably be in writing.