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Can't Pay the Mortgage |
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hi, I have to sell my condo because my a.r.m has risen to the point where I can't afford it any more and refi is out of the question because of credit card debt. I am already behind on my mortgage so I am possibly looking at a foreclosure in the future so I want to sell it as a fixer upper before any actual foreclosure proceedings start are there agents willing to take on distressed property and how low would I have to drop the price to sell as I need to at least cover the remaining mortgage and a home equity loan when I sell |
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You can't set your price by what you need to get out of the property. It's the buying public that determines what your place is worth, by comparing it with what else they could buy in the neighborhood. It all depends on how much you have borrowed, compared to what you'll be offered for you condo. Call three real estate agents who are doing buisness in your neighborhood (look at for-sale signs for their names.) Ask them to come over and give you advice. It won't cost you anything, and they can tell you what your options are, better than I can from this distance.
Good luck! |
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Edith
Originally published on February 8, 2008 |
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