Buying or Selling a Home/house

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Question
I need to get out of this jam big time.

Say for example, you buy a $2000 PC at Fry.  You get 15 days before a full refund. You get all your money back no matter what happen.

I bought a house price $200,000.  Got approved for 30 year payment plan for $1800/months plus $5000/month for tax.  But I was transfer to work somewhere else. I do not know if I need to tell the bank. I have to buy rent there.  So, I could not pay my mortgage no more but paying for 7 years.

What happen is I borrow an extra $100,000 and $100,000 from friends to fix the house.  The house is now worth $400,000.  But I have been living in it for 7 years.  


I work with a Realtor, the house could not be sold.  The bank took for $200,000.  I down $200,000 plus 7 year payment plan and taxes.

I am not able to get a full refund like the PC of $400,000 plus the 7 year payment plan.

Can you help me get the 7 year payment plan plus tax and $400,000 back?
If not, I would lost about $300,000. That just ridicule. There is no policy like that.

Answer
What country do you come from, Henry? I'm finding it very difficult to understand you.

It boils down to this: Here in  the United States, if you do not make your mortgage payments for five, six or seven months after promising to make all your payments in the documents you signed, you will lose the house back to the bank.

Even if you paid your monthly payments for 29 years, but then stopped making payments, you would then lose the house, I suggest you talk to all your friends who lent you the $100,000 to see if any of them would be willing to help you get the house back.

I wish you well. Good bye.

RCD

Buying or Selling a Home

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Dick Dennis

Expertise

With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

Experience

Solving real estate problems for 37 years.

Organizations
National Association of Realtors

Publications
Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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