- This topic has 8 replies, 1 voice, and was last updated July 30, 2008 at 5:40 pm by .
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— In Budget101_@yahoogroups.com, “nowurcooking75”
>Hi.
I really don’t have a lot of advice to offer, but to just say I
feel your pain. We moved almost a year ago and our house has been
on the market. We finally just got a buyer for it. My prayers are
with you! I know how stressful it it to keep up a mortage and and
pay for another place to live. Hang in there!!
Susan
> My son and I reside in Ohio. I own a house (actually the mortgage
> companies do) that currently has two up to date mortgages on it for
> almost 10 years now. I’ve been trying to sell the house for almost
a
> year now and so far have had no luck. I do have a realtor, done
open
> many open houses, and over 20 showings. I am working my butt off
> trying to sell this house with my agent.
>
> My insurer, State Farm, has decided to cancel my coverage due to
the
> home being vacant. I have to find coverage for the house before the
> middle of September. I’m not sure what way to go. I’m sure the
lenders
> will try to obtain coverage for my home at an expensive price. I’m
> hoping to get it sold within the next year. I can’t refinance
because
> of my income I’ve been through 3 layoffs in 2 1/2 years with
another
> one possibly coming next month. I have kept up to date on my bills
in
> spite of all of this. It’s eaten up all of my savings to do it.
>
> To rent it out, I would have to get a pretty good rental rate just
to
> cover the two mortgages. The good news is I owe below market value.
> I’ve lowered the asking price $7,000 since May but I still need to
> make enough to cover the sales commission and other charges. Every
> time I turn around the agent makes suggestions for more
improvements
> to help it sell which I don’t have the money or the time to do. I
have
> contacted private investors and they said that they were looking
for
> smaller, closer to jobs, and more energy efficient houses. So no
luck
> there. I am really at the end of my rope. Sometimes, I think maybe
I
> should go for “short sale” or consider foreclosure. This house is
> costing me nearly 2 checks a month in payments and utilities since
I’m
> making less money at my job because of cutbacks.
>
> Anybody else have any experiences with this? Insurance company
> suggestions? Any advise would be appreciated.
>
> Thanks,
>
> Holly in OH
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