Posted on: 18th May, 2009 11:37 am
Can I renegotiate my mortgage with the heirs of my seller financed mortgage?...The Seller who financed my home died. Is it possible to re-negotiate my mortgage with the heirs? If so, what is an appropriate offer in the current real estate market? Pay off at market value? I paid 330k for the home, now comparable homes are selling for 210k.
Hi domnickiwasyk,
As far as I know, you won't be able to renegotiate the mortgage terms with the heirs of the seller. You must have signed a contract with the seller. That contract is a legal agreement and will remain in force.
Thanks
As far as I know, you won't be able to renegotiate the mortgage terms with the heirs of the seller. You must have signed a contract with the seller. That contract is a legal agreement and will remain in force.
Thanks
sure you can negotiate...however, that won't guarantee you any results that are favorable. unfortunately, they have you sort of over a barrel, so they may not be willing to budge. but it's worth a shot - and you will want to point out the current market conditions, which may persuade them to grant you some relief.
