You more on your home than it’s worth. You found a buyer who wants it – but will the Bank approve a Short Sale? This is a tough situation, especially if you will be underwater less than $10,000. You’re family would like to help, but with the economy, they don’t have 5 Grand to bail you out!
There might be a new way to get the help you need, and get the help your family and friends want to offer.
Have you heard of “Social Lending?” Most of the sites we looked at require a 640 credit score – but there didn’t seem to be too much more they wanted… Unsecured loans from $1000 to $25000. I think this is the way student loans should be done!!!
If you’ve gotten someone to purchase your home, and there’s going to be a balance owed, maybe the bank will work with you – and maybe they won’t. This could be a way to take the money to closing and get this all behind you! For more info -you can look at this company in Europe… we no nothing about it, but thought it was interesting.
If you have questions about the Short Sale Process in NC, and what it’s going to do to your chances of buying another home – call Steve Thorne 919-649-5058
Everyone’s situation is unique but, if you do as much research as you can and use debt consolidation articles and other tools you find as a general guide, you can customize it to fit your situation.
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