Jen,
I have been selling, working, and living in Joliet my whole life! Many of these we by quickly things are to good to be true. With out knowing your personal position it is hard to give any direction other then that it can be to good to be true. 30 mins we sit down and talk and then you can toss me out on my ear if you don't like what I have to say!

Jen
Let's stop and look at the big picture.
You bought the property in 2007.
You bought it with no money down.
We are falling further and further behind.

You don't need to share the facts in this post, but here is the truth:
If you bought a property in 2007, and the value INCREASED 20%, would you be hounding the bank, trying to give them the extra equity?

So now that the " bad loan" that made it possible for you to purchase a home with no money down, based on terms that you suspected were too good to be true, now you want someone to buy the home for more than it's worth so you can "start over".

You need to be real and have professional assistance.

Markets go up, markets go down. There are programs in place to help people that have had bad things happen to them. You might consider looking at http://www.hud.gov.

Just as a hint, these companies are out to make money. Not help you correct your mistakes. Be very careful about expecting a miracle. My personal estimate is that you are going to pay a price, one way or the other.

I would expect you'd have a better chance at a loan modification than anything else. However, you need to qualify for the loan. Full doc.

Hi Jen,

If your mortgage is making it impossible to stay afloat and you can prove your financial hardship, you may qualify for a short sale with your lender - realtor commissions and attorney fees would be paid by the bank in this instance. A free phone call w/ an experienced short sale attorney would surely be worth your time. I've been really happy with Pratt Law, (815) 226-7110.

Best of luck, and feel free to contact me via my website below.

Laurie, Realtor w/ The Pych Team @ RE/MAX In The Village

These are investors who will buy wholesale cash to the seller anywhere from 60-75% of its true value when in good condition. of course when a buyer gets a loan that's also cash in the end but in this case there is usually a cash pool available for fast closing once an agreement is reached.

Hello again Jen,

Be aware of someting that sounds too good to be true..ti usually is!

Tim
tfitzgerald@c21proteam.com
815-353-1901