Out of work, cannot pay mortgage much longer, is bankruptcy only hope? Afraid of foreclosure or homelessness.?
Question:
Answer:
Dealing with your problem first. You can contact your lender and see if you can't pay just the interest. Usually you can get by for a year doing this.
If you start falling behind, you can negotiate simply signing the property back over to them. You can avoid bankruptcy doing that. The only thing tha appears on your credit report is a delinquency.
You can try selling it outright. Simply because it needs some work, doesn't mean you can't sell it. Just find the right real estate agent. One who understands what you are into. The agent will help you determine what your bottom price is.
Try mixing 1 and 3. Seek relief with interest only and list the property.
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Now your second problem. Ignore others who seek to blame someone else for their predicament, i.e. President Bush. You won't get anyplace in life scape goating your own mistakes.
Draw a line across a piece of paper. Above it write Learn, below it write Blame.
When you take an honest look at your mistakes, not blaming yourself, or others, you will learn.
The choice is where YOU choose to live.
Good Luck
You can try selling to one of the buy now as is companies. Sometimes you can find one that offers a fair deal.
Good Luck
you must be in foreign country as my president keeps telling me he has created many many new jobs and anyone that wants to work has a job waiting.
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