Can I do a short sale with no financial hardship?
Posted by | Posted in Buy My Home Fast - Questions & Answers | Posted on 25-04-2010-05-2008
4
I live in a neighborhood that is turning bad very fast. I need to get out. However, I owe $109,000 and I can probably only get $90-95,000 for the home. It’s so bad right now that I am willing to just walk away from it. I make decent money so is a short sale out of the question? My realtor recommended a deed in lieu of foreclosure. I don’t want to mess up my credit though. Should I tap my 401k to cover the potential loss on my home? Take out a loan to cover the loss? Or worst case scenario foreclose even though I have no financial hardships? I am in dire straits. Please help!!