another option? - Loan Modification Forum

JimmyD · 05-21-2008, 02:35 PM

are there other options such as selling my house on my own before losing it to foreclosure? the agents charge way too much. I have already talked to my lender, but they don't want to budge. any suggestions?

JimmyD · 05-21-2008, 02:43 PM

hello, my house is being foreclosed on and I am having no luck with my lender (option one). I don't want to use an agent to help me sell it yet, the fees are way too high so I was wondering if anyone knew of any other options where I could try to sell my house by myself? I figured I could try this first.Is this a good decision? thanks for your help.

Moe Bedard · 05-21-2008, 02:47 PM

Jimmy,

Welcome to the forum and thank you for joinng.............

If you are having to sell your house Short Sale you will need an agent well versed in Short Sale negotiation to help you with Option One..........they will require this and they require it to be on the market for at least 60 days prior to approving a short sale contract.............so this isn't something that can be done by you. The fees that you are referring to for an agent in a Short Sale situation are all negotiated by the agent and Option One..........as there is nothing left to the sale that would go to you............you wouldn't have to worry about that part of the equation..........

Hope this helps..........

JimmyD · 05-21-2008, 03:07 PM

ok, thanks. do all lenders require agents in short sales? I have been informed of them, so I do know how they work. But I believe I may have equity in my house and was wondering if there were services that anyone knew of that allowed people like me a chance try and sell our home by ourself first.

Moe Bedard · 05-21-2008, 03:20 PM

Jimmy,

If your house is being foreclosed on.............do you really have enough time to sit on the market............in this market? The foreclosure process isn't going to stop if you put your house on the market FSBO.
Hire an agent and give them permission to talk with the lender..........and let them do a Price Opinion on the house so that you can see what the values are realistically right now.

JimmyD · 05-21-2008, 05:23 PM

Thank you for your reply. I appreciate it.

05-21-2008, 02:35 PM	#1 (permalink)
JimmyD Member Join Date: May 2008 Posts: 6 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	another option? are there other options such as selling my house on my own before losing it to foreclosure? the agents charge way too much. I have already talked to my lender, but they don't want to budge. any suggestions?

05-21-2008, 02:43 PM	#2 (permalink)
JimmyD Member Join Date: May 2008 Posts: 6 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	other options? hello, my house is being foreclosed on and I am having no luck with my lender (option one). I don't want to use an agent to help me sell it yet, the fees are way too high so I was wondering if anyone knew of any other options where I could try to sell my house by myself? I figured I could try this first.Is this a good decision? thanks for your help.

05-21-2008, 02:47 PM	#3 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: another option? Jimmy, Welcome to the forum and thank you for joinng............. If you are having to sell your house Short Sale you will need an agent well versed in Short Sale negotiation to help you with Option One..........they will require this and they require it to be on the market for at least 60 days prior to approving a short sale contract.............so this isn't something that can be done by you. The fees that you are referring to for an agent in a Short Sale situation are all negotiated by the agent and Option One..........as there is nothing left to the sale that would go to you............you wouldn't have to worry about that part of the equation.......... Hope this helps.......... __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

05-21-2008, 03:07 PM	#4 (permalink)
JimmyD Member Join Date: May 2008 Posts: 6 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: another option? ok, thanks. do all lenders require agents in short sales? I have been informed of them, so I do know how they work. But I believe I may have equity in my house and was wondering if there were services that anyone knew of that allowed people like me a chance try and sell our home by ourself first.

05-21-2008, 03:20 PM	#5 (permalink)
Moe Bedard Founder Join Date: Aug 2007 Location: Southern California Posts: 16,887 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: another option? Jimmy, If your house is being foreclosed on.............do you really have enough time to sit on the market............in this market? The foreclosure process isn't going to stop if you put your house on the market FSBO. Hire an agent and give them permission to talk with the lender..........and let them do a Price Opinion on the house so that you can see what the values are realistically right now. __________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book \| Please donate to LoanSafe.org \| Loan Modification Training For Attorneys \| Rate Your Mortgage Servicer The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

05-21-2008, 05:23 PM	#6 (permalink)
JimmyD Member Join Date: May 2008 Posts: 6 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: another option? Thank you for your reply. I appreciate it.

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode