AboutDennis Herman Expertise I can answer questions on Real Estate such as question on writing an Offer to Purchase. What can go wrong after an offer is written? What is Buyer Agency and what will it do for me? What is a foreclosure? What is the difference between a foreclosure, a bank owned property and a short sale? What is the best way to locate a property? What steps can be taken to avoid foreclosure? How do Real Estate Agents get paid? How can I quickly build equity in a home? How do I view homes? What types of homes will have the best prices? How do I choose an agent? What types of financing are available?
Experience Residential and commercial real estate. New home purchases. Buyer Agency. First time home buyers. Foreclosures, bank owned properties, estate sales and short sales.
Organizations Greater Milwaukee Realtors Association
Wisconsin Realtors Association
National Association of Realtors
Publications http://activerain.com/bloghome
Education/Credentials State of Wisconsin Licensed Real Estate Sales Agent
Accredited Buyer Agency Training
Relocation Training
Certified Senior Citizen Representative
Wisconsin Real Estate Continuing Education
Question We are almost 4 months behind on our mortgage payments. My husbands salary has decreased significantly and his place of work has been transferred to almost 50 miles away - almost a 3hr commute in traffic. He suffered a fatal car accident last year (he's ok but the other party-intoxicated-ran into him). He is emotionally and physically unable to do the commute and our finances are in a shambles. Can we walk away and rent a small place closer to his job or do we need to stay put until we are thrown out? Would we hold any financial obligation to the mortgage company or would they just take the home from us
Answer Most of all I think you need a lot of prayer.
You should have considered a move months ago. Figure if you sell at a loss, the next home you buy the owner will also be selling at a loss. Check with a local real estate agent to get an idea of the current prices in your area. See if you can sell before a foreclose takes place. An agent can talk to your lender to see if a short sale can be arranged.
Talk to the lender and see if a loan reduction can be arranged. When searching for help on the Internet make sure you use sites with the .gov such as HUD.gov.
