10 responses to “I want to sell my house but my mortgage is more then the value on the house?”

• 

  a heart so big August 31st, 2009 at 13:53

  Peggy

  first of all, who valued your house at 190000? If your going by tax appraisals, that way off. Most tax appraisals only use a portion of the actual value for their assessments.

  secondly, how did the house end up in your name alone? You were/are married and the responsibility should be on both of you, unless this is part of your divorce settlement.

  now, if your house value really is 190000, and it really is only your responsibility, you’re pretty much screwed as far as selling it goes. Best guess would be a couple of roomates.

• 

  Common Sense September 1st, 2009 at 06:14

  Brenda

  Walk away from it…

• 

  bryan l September 4th, 2009 at 11:52

  Melanie

  get roomies

• 

  MrWiz September 6th, 2009 at 23:47

  Ella

  where is this house, I could probably give you $175,000 for it

• 

  thrill88 September 7th, 2009 at 20:46

  Vera

  Get a room mate or two. Figure out what you can pay and see if you feel you could charge the difference as rent. I would much rather live in a nice home than an apartment.

• 

  dee September 10th, 2009 at 12:03

  Jessica

  First of all check out the divorce laws in your state. In WI its a fifty /fifty deal. Everything is split down the middle whether the house is in just your name or just your spouses.

  Another thing, dont go thru a realtor. That will cost you bucks.

  Put your own price on your house and you will most likely get a buyer who will give you what you want. Advertise on the net if you have to especially in places where you know the people have money.

  We were told that we could only get a certain amount for our home. We didnt listen to the realtors and we sold it for 30,000 more than the realtors were going to ask.

  You would also be amazed at what a little paint will do for a home. Painting rooms off-white will make the house look bigger. Adding a few shrubs in the yard. What do you have to loose.

  You could also sell the house at a loss and claim the loss on your taxes, or sue your ex for the loss because of dessertion, or abandonment. Check out your legal possibilities online with the state statutes in your area.

  There are also tons of lawyers who will give you a free consultation, or some that will cost you 10 dollars for the first hour. A lot of these guys give pretty good advice on what do do in situations such as yours. Keep calling them till you get some answers.

  You could also try renting it out on a land contract, but get a lawyer to help with the paperwork. Realtors just cost you a lot of money for something you can do on your own, if you read.

  But , if you choose to stay with a realtor, then find one that will sell your house for the price you want. If you cant pay the full mortgage on the house, write the mortgage company a letter stating this and send whatever you can send. This makes it pretty hard for them to forclose on your home. If it did get as far as a forclosure, show up for court and explain to the judge, youll be surprised, especially if youd made an effort and explain your situation how the judge will rule.

  There are many ways to get around all of this you just have to do some reseaching on your own.

  Good Luck to you and sorry about your wife leaving you in such a mess.

  Dee

• 

  Spy Girl September 13th, 2009 at 02:33

  Natalie

  Tough situation, but in the long run, payments on the $15K would be better than on the $205K….check with another mortgage company for advice, they may want your business.

• 

  Big Bully September 13th, 2009 at 23:49

  Eleanor

  Gee, reminds me of the 90′s when the housing market went down.I wonder if the same people that hyped the market will be there for you now the market is going down?

• 

  jacksaw September 14th, 2009 at 00:10

  Brad

  I buy properties which can appreciate in long term please send all details i will try and help you

• 

  Steve R September 15th, 2009 at 13:48

  Gail

  Sell the house. If you put a little sweat equity in it, paint and spackle and fix the little things wrong with it, you’ll get more money out of it.