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housemouse

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Posts: 1
Reply with quote  #1 

Need advice.  Condo listed, payments current, but will stop making them in September due to non-employment.  Listed with agents in La Jolla and will go upside down between pre-payment penalties and commission.  Called Lender, Countrywide and they will not let me file a grievance to discuss ANY options, until I have missed 4 payments and you what my credit will be like then.  Can I dump the realtors and sell myself and negotiate with the lender..I have nothing to lose.  Thanks in San Diego

Suzanne

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Posts: 340
Reply with quote  #2 

Hi,

 

Get yourself employed before September.  You have transferable skills I'm sure.  Also, get a young, hungry agent and tell them that you will pay 1-2%.  Also, try and list FSBO.  You could rent out the condo-how much would you be negative?  If you are in La Jolla, rent out to UCSD students.

 

Hope these are helpful suggestions.

 

Suzanne

mike

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Posts: 607
Reply with quote  #3 
Quote:
Originally Posted by housemouse

Need advice.  Condo listed, payments current, but will stop making them in September due to non-employment.  Listed with agents in La Jolla and will go upside down between pre-payment penalties and commission.  Called Lender, Countrywide and they will not let me file a grievance to discuss ANY options, until I have missed 4 payments and you what my credit will be like then.  Can I dump the realtors and sell myself and negotiate with the lender..I have nothing to lose.  Thanks in San Diego

Who knows. I'd cut the price drastically. I'd be really late or miss one payment to get the lender's "attention."  See a lawyer about how this could effect your credit. Look at it this way. The lender isn't going to give in easy to a short sale. Neither are the RE agents. Beat em' both up.

Mike

 

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