I need to sell my home quick, does anybody have any suggestions?

Question

I currently owe just about what the home is worth. I have a almost perfect credit score and have never been late or missed a house payment. But i have a little girl that is due in December and i need to move closer to my family up north due to family needs. Can anyone help me get out of this house so i don't have to end up with a fore-closer?

Answer 1

There are 2 million people in your exact position.  YOur options are few and they are all bad.  You know that a house will sell fast if you price it low enuf.  If you had put $100,000 down when you bought it, you could just walk away with less than that and be done.  But you are mortgaged to the hilt.  Renting it out would be fine if we could know that the value will go up $50,000 in 5 years.  We don't have that guarantee. In fact, things might continue to go down.  Renters will leave your house worse than you will.  That's not because renters are evil. No, they just don't treat it like it is theirs.   Can you "come out of pocket" and pay to sell the house.   Just sell it for whatever it gets and write a check to the bank.  /

Answer 2

if you are in Maryland...... visit www.WeOfferSolutions.com

Answer 3

You can attempt to sell your home "subject-to" an existing mortgage.  A good real estate investor can help you with this.  Basically, a new buyer will be purchasing your home and taking over the existing payments.  This only works if you are in a relatively low fixed interest mortgage.  The other option is for you to find a lease-option tenant to pay enough rent to cover the mortgage and then buy the home in a couple years.  They make an initial option payment.  All these strategies are very well known but make sure you consult an attorney before signing any documents.  Good luck with the baby :)