Letting them go back?

[lou]

well actually, it was as easy as i said in my post! i got someone that was interested in my property, but was not offering enough to even pay it off. so i countered offered the buyer, i got them up to just a little over original pay off. then i called the lender, and spoke to a short sell department, i explained what i was doing and asked her if i could offer a selltlement. (i offered $15,000 less than what pay off would be), she told me to put it in writing and fax it to her. i did just that, and it was accepted within days. and i closed on the sale and got a little pocket change to boot. so far nothing has shown on my credit report saying that it is a negative. hopefully it never will, because we are right in the middle of a new mortgage for a new home. i can't really tell you anything more, because it was very simple.

[wendy]

Thank you so much. It's just finding someone interested in these homes in our area. I'll keep that in mind though!

[judy]

Wendy,
What part of the country do you live in? And Lou, what a wonderful idea. We have been offered some very low prices for our MH, but if this would work with our morgage company, it is worth looking into to. Thanks all.
Judy

[lou]

you might also think about how much you owe and then think about if you turned the home over, how much would the lender get from the resale.(once the lender has possession of home and sells it, they will charge you the difference.) so if your home would not resale very high, which means the bank will not get what you offered, it is in their best interest to accept your offer. i will tell you this, my home was not in very good condition(i believe to not being set up properly, i do not know for sure because i was not educated at the time), and their would have been not way that the lender would have gotten anything out of my home. and they (lender) did come out and do an inspection of the house. but i would try to figure out how much they could get if they resold the home and offer above that amt, and make sure that it is settled in full, i hope i did not just put a downer to it, but the more i thought about it, i thought of this part. again, though it does not hurt to ask, all they can do is say no and that means that nothing has changed, you would still be in the same boat. but it paid me to give it a try and it worked for me. good luck to you both!

[wendy]

I live west of Portland Oregon. About 25 miles west. Beautiful area, just no interest in these homes right now.

[wendy]

Lou-

I owe 55,000.00 and I bet they could get 35,000.00 for it. I'm willing to continue to pay as much as possible to get the residual down. We're actually looking at the effects of the negative impact on our credit vs. filing a b/k.

[lou]

please try to avoid bk over this. i was just going to suggest getting a realtor, but i see you have tried it. have you tried other realtors. how about advertising in the for sale by owners web sites, newspapers ads etc.
try to spruce up your yard with landscape design, you know curb appeal, make the front look really inviting to someone driving by. put your own for sale sign up in front of home. can you afford to have the house inspected strutually, so you can list this as a positive. can you get an appraisal done, to see where you stand right now.
try word of mouth to everyone you know, put flyers up, i am not expert on anything, but there is also a thing called lease with option to buy, (try searching the web for more info).
and you know what, if everything fails, don't worry if you feel you need to file bk. that will not be the end of the world. just remember after discharge of bk to keep credit spotless. fha requires 2 yrs post bk with clean credit for past year. no lates.
good luck to you and keep us updated on how you make out.

[lou]

how much are you asking for your place right now?

[sabrina]

hi wendy,
yes, please DO keep us updated on your progress. you are in my prayers and i am sorry you are going through this. i am a reedie and know the area well. i'd buy your home in a heartbeat IF i could handle the dampness but i can't and that's why i live in the high desert of co.

just a wacky idea: email the hr depts of the silicon types (like nike) east of you and post your home with them. a friend did this and she had the buyers bidding against each other without doing a thing. i don't know if this would work for you but i sure hope so!
sabrina

[judy]

We live in Silicon Valley, I might go ahead and try that with our MH. We will lose ours in about 2 months to foreclosure. But, as the last resort we have put the MH on E-bay, we bought the house we are going to live in, up in the Trinity Mts, outside of Weaverville, Calif. on Ebay. We have had 3 responses so far, and over 200 people have looked at it. Wendy, you might try putting yours on Ebay, it costs 150.00 for a month and more if you want to list for longer. Hey, it can't hurt, and you might even sell it. We had someone write to us that lived in the Bay area and are moving back, from florida, so I have my fingers crossed. Good Luck.
Judy