Posted on: 11th Mar, 2010 02:23 am
I was looking at the homes in my area for sale, my home needs a little tlc, like paint and floor covering and an updated kitchen. They are selling in my area from $50000.00 to $84000.00. Well that is asking price, what they actually get is another story. Well there is a balloon payment due in early 2015 on this house of $69000.00. My interest is terrible 9.13%.
How can I get out of this house without messing my credit up?
Thank you for any and all advice!
How can I get out of this house without messing my credit up?
Thank you for any and all advice!
help please
Hi drifter,
I don't think you would be able to get rid of the property without affecting your credit. If you do not want to pay any deficient balance resulting from the sale of the property, then you should apply for a deed in lieu of foreclosure. This will lower your score by 250 points.
However, if you can afford to pay the deficient balance resulting from the sale, then you can go for short sale. In this case, your score would go down by 75-100 points.
Take care.
I don't think you would be able to get rid of the property without affecting your credit. If you do not want to pay any deficient balance resulting from the sale of the property, then you should apply for a deed in lieu of foreclosure. This will lower your score by 250 points.
However, if you can afford to pay the deficient balance resulting from the sale, then you can go for short sale. In this case, your score would go down by 75-100 points.
Take care.