Possible Foreclosure - What are my options? - Posted by Adrian

Posted by made_ez on May 15, 2006 at 01:34:44:

i live not to far from boston, perhaps i could help you with this problem. is it an issue of money? please let me know and send me an email at made_Ez@hotmail.com

Possible Foreclosure - What are my options? - Posted by Adrian

Posted by Adrian on April 12, 2006 at 23:36:06:

I am in desperate need of advice in regard to my house. I really would like someone who may have undergone through what I am experiencing to respond. What are my options? Should I walk away? Should I sell, and if so, sell short and take the loss? If I sell short, how do I get financing for the shortage if I sell at a loss. Do nothing at all…I’m in dire need of short term and long term funding opportunities to alleviate my stress now. This is in Boston, MA. This is an investment opportunity that has great long term potential on the resale (+$50 - $100k) in 5 years or so. Any suggestions would be excellent and considered. Not looking for anything but some assistance.

Re: Possible Foreclosure - What are my options? - Posted by Tim

Posted by Tim on April 13, 2006 at 20:45:08:

Dude, I am lost. Is this your personal residence or is this an investment property that is about to be foreclosed on?

I suppose this is an investment property so here is what I have for you. If you allow this to go to foreclosure then your credit is toast and any future investment opportunities will be in serious jeopardy because of it.

Sell for what you owe. Sounds like you got in over your head and you will need to take a hit on it. Find someone who wants to do a fire sale and get out from under this.

P.S. 5 years from now is not what you should be focused on. If you can’t make money on a deal in under a year then don’t do it.