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ESTAPLACE.COM REAL ESTATE - FREE LISTING SERVICE -
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Nesgroup address: misc.invest.real-estate - Date & Time for the message: Sat, 28 May 2005 23:52:31 -0500
/ Author of the message: "Randy Cox" |
Title of the message: |
Re: Need advice on getting rid of rental.
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Text of the message: |
"jinto34" <killiam31@yahoo.com> wrote in message news:1116426081.806487.181100@g14g2000cwa.googlegroups.com... >I purchased a rental property as primary residence at the advice of the snip to > I can no longer afford it, Before you let it go back to the bank, you can sell it subject to the existing loan, which means you give title to the buyer who takes over payments. He'll set up a trust so that the whole thing in nearly invisible to the lender to avoid triggering the "due on sale" clause. He'll then try to lease option it to another. That is a terrible way to sell a house, but it beats letting it go back. That will ruin your credit. Selling it subject to might run your credit if the guy you sell to doesn't honor his obligation. If you choose this, just call one of the numbers you see on the "I buy houses" signs everywhere in your area. You could lease option the house to a buyer yourself, but you'd have to |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.