Home Equity Loan
I need to get out of my house loan and equity line of credit?
My house has a 80k loan and a 50k equity line of credit (diff bank) Built 1849 I do not have the money to fix. Now a 3rd child is coming and my house has serious mold problem. Family is sick. I want to walk away. Help... deed in lieu of foreclosure? What kind of options are available. I want to get a mold check for proof. Get quote to clean. Which I cannot afford. Then hand over to bank. House is unsafe to live in.
Public Comments
- Contact your lender in regard to a short sale and let them know the house is "distressed" in that it is worth less than you owe due to repairs -- & a health hazard due to mold. Contact a general contractor to get a FREE ESTIMATE on the repair costs. A "deed in lieu" will show up on your credit report. Whereas an investor may be willing to purchase the house under a short sale and make the repairs to resell. This will allow you to save your credit in order to purchase a new home you can afford to love -- and live in! Feel free to give me a call if you need information on the short sale. That is my specialty in Georgia! Good Luck! ___________________________________________ CAROLINE SIMMONS REALTOR® & Affordable Housing Specialist O. 866.894.3601 - C. 404.787.8685 - F. 404.745.8019 E. caroline@premyiergroup.com AIM/YAHOO. Caroline Simmons
- What is house worth? It had be worth more than 130K? If you have 50K on L-O-C, you should able to close escrow account unless you are with FHA, the first 5 years...Stop paying property tax if it is not livable...close escrow acct if possible, it will save you payment for a short while...sale it as quick as possible...
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