What should I do if I do NOT want to keep my AZ home? It is on the market, but I have moved to Indiana. ?
Submitted by admin on March 11, 2009 – 1:11 pm4 Comments
My home has been on the market for 9 months now. I just want to get out of this house ASAP. Should I look into the deed in lieu/foreclosure/short sale process? I’m really not concerned with my credit score, I just want out of these mortgage payments. Any suggestions?
If you quit making the payments, then eventually they’ll foreclose. Will mess up your credit, but you say you don’t care about that.
You might be able to talk the lender into a short sale, but would still need to find a buyer, not always easy to do.
Home sales are slow. Take this in to consideration. Call friends who may want to rent. Maybe this will help make payments.
References :
If you quit making the payments, then eventually they'll foreclose. Will mess up your credit, but you say you don't care about that.
You might be able to talk the lender into a short sale, but would still need to find a buyer, not always easy to do.
References :
The short sale will probably demand that you sign an IOU to the lender for any "short" amount. It doesn't sound like you want to do that. Sign a deed to the bank while you are still current on payments. Make them sign a paper saying that they accept the deed with no future payments due. Leave it clean and turn in the keys at a local bank.
References :
there is one company in the US that specializes in 1031s, or,
an exchange of homes across the US.
LET a local RE broker know that you want to enter an exchange.