Question:
Ok heres the story..my parents bought this house in 98 for 367,000...we were going through a foreclosure but got a new loan, 9 years later we are going through another foreclosure...NOW we owe 750,000, and the house is worth 1.2 minimum.!the foreclosure is for the second mortgage and the guy personally wants to steal our house and live in it! SO WE CANT REFINANCE my dad has been struggling to sell it to the same person for at least 3months...we dont want to lose our house and the guy is only going to leave us we 100 grand in our pocket..for a family of mines size we need a 5+ bedroom house in miami, house prices here are out of the roof, our house thing is kind of public i think alot of people might know because they have come foward asking to buy it, because we are depserate companies want to give us high intrest rates...if the closing with the other guy doesnt go through the house will be auctioned in 2 days, its to late to do anything else...advice..please..i am very very nervous
Answer:
Go and see if this link from our research department can connect you with some help from these folks, they are there to help.
National Home Recovery Program for foreclosures
http://www.nhrp.com/
To be able to foreclose the second can only acquire the property by paying off the first note and mortgage plus auction costs. Hopefully you have legal representation.
I wish you the best of luck
sell ur house, obv hes taking advantage of you, but at this point u have no other options of qualified buyers. either sell or have it forclosed and get nothing.
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