Results 1 to 2 of 2
  1. #1
    Join Date
    Apr 2012
    Posts
    1

    Default Second Home Rental Foreclosure

    My question involves a mortgage in the state of: AZ

    I have a MFG home in AZ, that I don't live in and have tried to sell it for the past 6 mths with no luck. I have talked to the bank about renogiating my mortage but there is nothing available for MFG homes.
    I'm thinking of either, foreclosure, deed in leui, or short sale back to the bank. Trying to sell is almost impossible because folks cant get loans. I rented it for a year but ist is now vacant and I cant find rentors in the area. I'm behind 1 payt.
    What are my best options to take at this point.
    Thanks

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Second Home Rental Foreclosure

    It depends upon the financial picture, which we don't know - and even if we did, yours is not actually a legal question. Your options include, but are anything but limited to, continuing to negotiate with the bank, allowing foreclosure to proceed, bankruptcy, selling at a loss....

    1. Sponsored Links
       

Similar Threads

  1. Foreclosure: Foreclosure on Our Rental Home That Contained Personal Property
    By Dawst in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 08-12-2011, 01:18 AM
  2. Foreclosure: Rental Home Foreclosure
    By bcabo in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 07-14-2011, 03:20 PM
  3. Foreclosure: Unaware Of Rental Home Foreclosure
    By maulcia in forum Buying, Selling and Conveying Real Estate
    Replies: 4
    Last Post: 06-19-2008, 05:17 PM
  4. Change of Ownership: Foreclosure Of A Rental Home
    By jmush in forum Landlord-Tenant Law
    Replies: 2
    Last Post: 04-25-2008, 05:24 AM
  5. Foreclosure: Can The Lender Take My Primary Home After Foreclosure on a Rental
    By jvd in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 08-29-2007, 06:02 AM
 
 
Sponsored Links

Legal Help, Information and Resources