Want to sell our Townhouse, how do we do it in this market?

Answers:2   |   LastUpdateAt:2012-09-16 10:39:04  

Question
Patiance
Asked at 2012-08-22 04:39:03
We bought a new condo / resort in Rhode Island in 2005 . MedlinePlus It's in a decent area , 10 minutes from Providence. 40 minutes from Newport . At 50 minutes from Boston . We both lost our jobs last November and are living in an unemployment check . With student loans , cars , insurance, utilities , mortgage , credit cards , etc. .. It's all become too much and we are throwing everything we've saved in this black hole of debt and mortgage interest . MedlinePlus MedlinePlus Therefore, we have read all about the two types of short sales, ( lien release ) , etc MedlinePlus Foreclosure , bankruptcy , etc .... MedlinePlus MedlinePlus I know there is an alternative to renting our Condo / Townhouse out , but the market does not look so good rental (to cover what you need for bills and move ) BUT, we want out! We either go home to upstate New York where our families of origin or way south to Florida , where its heat . Does not even matter to rent again. I'm sick of IT around here . One of the highest unemployment rates and depressed and miserable. MedlinePlus MedlinePlus So , what 's in it for us? MedlinePlus students had tickets both loans on credit cards has become a second mortgage , while the market was still good . So, now we have the first home mortgage and a second mortgage . This amounts to $ 200,000 the main problem is that we are one of the five condominium units . The end of it was a foreclosure when the owner skipped the country . Nice! So , with that unit selling for $ 129K 're screwed ! MedlinePlus MedlinePlus So we would like to short sale and have to get forgiveness than $ 70K MedlinePlus AAaaaaahhhhhhh ........................
Answer1AnOnYmOuS GiRlAnswered at 2012-09-12 10:39:04
First, I would like to be notified in case of bankruptcy , as we always have to pay your loans , even if you file bankruptcy . Plus it destroys your credit for seven years . MedlinePlus MedlinePlus Now, go to apply for jobs everywhere, even McDonalds and other seedy locations - some income is better than no income . Aggressively apply for jobs throughout the company in its field. Not everywhere is doing as badly as your area . I live in VA and bumps * in * the timber , the market is still good here . Maybe you can get a job with a company that will pay moving expenses . Even if it is not the job you want or less than what you need , it's better than nothing . See if you can trade in your car for something more / cheaper . Or sell them and pay cash for something less fancy , but reliable . MedlinePlus MedlinePlus Have you talked to a real estate agent to get your house listed? I personally would never buy a "sale by owner " home , but that's just me . Others may , but I do not sell as quickly. If you want to sell the house, regardless of whether or not a profit and exit. Let it become someone else's problem . Probably will sell quickly too! This is a great time for first time home buyers ! MedlinePlus MedlinePlus My prayers are certainly with you .
Answer2AlgernoAnswered at 2012-09-16 10:39:04
To rent .. just put an ad on www.craigslist.org and you can find something cheaper there too in the areas you want to move , however every effort to get a job before moving there. MedlinePlus MedlinePlus I'd like to talk to a real estate agent to see what they could get around the place are much more qualified to know the area and what you can do with your situation .
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