As a follow up to my last press - someone suggested going to local banks (the housing situation contained by AZ is horrendous) and offering to buy a home they would otherwise be taking to auction (at losses of 90-150k) in exchange for them buying out my loan (at a potential loss of 30-50k). Anyone ever hear of banks doing this? Realistically it seem doable - no obvious illegalities, but do you chew over a bank can be converted to do something like this? Especially since the repairs costs on my property are basically nil, and they could hold this property longer near less loss.
I know individuals can be convinced to swap - and assumable loans are the simplest approach to do this, but do you think a hill would?
Answers: It may make sense but they are busy and own so many rules and approvals that I newly can't see it happening. I really infer you are just wasting your time - possibly for a really small ridge you could talk your course up to the right person, but even near its very unlikely.
My answer to your interrogate is NO.
Banks are lenders and not into swaping one property that is already foreclosed on. They are lenders and not housing swappers. And it make no since to lose another 30k.-50k. from your home on top of the loss they are taking on the home they already enjoy.
Resolved Questions:
Online Lease Termination Letter?
What are lease to purchase homes whats the upside/downside?
My 17 year frail signed a rooming agreement within CA but have be sad within, can she take her money final?
Where is here a dorm or or low cost apartment for two relations wanting to progress to Pierce college ?
Living surrounded by Pensacola...?
I know individuals can be convinced to swap - and assumable loans are the simplest approach to do this, but do you think a hill would?
Answers: It may make sense but they are busy and own so many rules and approvals that I newly can't see it happening. I really infer you are just wasting your time - possibly for a really small ridge you could talk your course up to the right person, but even near its very unlikely.
For those who are Realtors, how have the bleak housing market/economy changed your business?
My answer to your interrogate is NO.
Banks are lenders and not into swaping one property that is already foreclosed on. They are lenders and not housing swappers. And it make no since to lose another 30k.-50k. from your home on top of the loss they are taking on the home they already enjoy.
Resolved Questions: