Expert: Dick Dennis - 7/18/2006

Question
We owe $55,384.02 on it and we are asking $60,000.It is a 30 year mortgage. We have had the house for 7 years and our monthly payment is $422.25, but we are behind already by $1700.
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Followup To

Question -
I have had my doublewide for sale for almost a year with a real estate agent, but he is not even trying to sell it and I just don't know what to do. We tried selling it ourselves in the beginning, but had no luck either. We do nnot live there, so the house is vacant and we are unable to continue paying our mortgage. We are going to have to foreclose if we don't some how get rid of this. Please help!

Answer -
Where is it located, what price do you have on it, loan amount, and monthly payment for how many more years?

Dick Dennis         dixiedee13@aol.com

Answer
First thing you do is to get a release from your listing with that agent. After you do that, contact the manager of your mortgage collection dept. and ask them for a moratorium on your payments by putting your back payments at the back of your loan. Otherwise, they can have the key to the MH and it will be added to their foreclosure inventory. Then promise this will never happen again.

Then go and put an ad in the paper saying something like, " Free home. Just take over back payments." If someone becomes interested, they should be able to take over the loan IN THEIR OWN NAME.

As long as you are resigned to losing it, you may as well try these ideas. Your credit is almost ruined anyway. You have a way of modifying it by trying this.

I do wish you well.

Dick Dennis