Imminent Foreclosure?
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Be careful of a short sale (which means the house is sold for less than you owe) because you can end up paying taxes sometimes on the difference between the short sale price and what you owed.
Imminent Foreclosure?If you want a company who would buy your house quick,checkout this website.
www.homevestors.com
It is a legitimate company and not a scam. They will come and talk to you,make an offer and do a real quick transaction. The company is a franchise but they all operate on the principal of helping people out whether those people are just going through a tough time or in foreclosure. I'mnot sure where you live but like I said they are a real company and are legitimate.
I checked them out as well and the website informs you of the whole process.
Imminent Foreclosure?DO NOT, I repeat DO NOT use one of those companies. That is the first piece of advice I have for you. They sound too good to be true because they are scam artists.
Second, a quit-claim to another family member will NOT stop a foreclosure, because it doesn't erase the lien. Names on the title and on the mortgage are 100% unrelated.
Third, your failure to make timely payments will affect EVERYONE that co-signed for you on their credit.
Fourth, a short-sale is the same as a foreclosure, and it will show up on your credit. This is the biggest myth in the mortgage industry that they are not the same, and when you go and purchase your next home, you will have to meet seasoning requirements for a foreclosure.
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