Foreclosure or short sale tips …?
I bought a condo in Michigan, 2.5 years ago. The economy is so bad here at this time and the property is not worth what it was. I owe more then worth it. I made only one interest, 0 for the mortgage. I want out. I'm about to become with the university and I think what you want, you can move out of state. I am very behind in my condo Assoc. fees and sent me a notice of levy. My site has been on the market for two months and I've only had a sample and told me it was a price, ha. I'm trying to do a short sale. If this doesn't work I want to try a deed in lieu (place must be in the market for 90 days from what they consider). What I want is some advice. I really do not want to have a screw with foreclosure but if doesn't work short sale and the bank accepts the deed in lieu, I'll have to do a foreclosure. Lien Is this going to hurt my plan? Any advice?
The association of the building but just made the purchase a bit more expensive, because it occurs when you sell or when someone buys it at a foreclosure auction. In this housing market possibilities of a deed in lieu are probably not very good. Banks already have many houses and do not really want more, but if you are a senior Foreclosure may be that it sees. My advice is to accept any offer you receive that you feel that the bank may accept. From their point of view of a short sale is probably better than a foreclosure auction. AND ANY option is better for you than a foreclosure.
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