Ok- owe $126M, house should appraise for $135M-$140M. I am planning on getting a realtor & trying to sell the normal way. I live in St. Louis, MO., and I want to move to PA in the summer so my son can start school in Aug-Sept. If the house doesn’t sell by mid-July, isn’t there a way I can contact the mortgage company and get them to buy it for the amount I owe? I’m afraid a “buy houses quick” place will not offer me the price I need to pay off the mortgage. The house is in great shape, clutter-free, and I think it will sell fast, but who knows in this market? I’ve heard of a short-sale, but it sounds to me like that occurs when you are behind in your mortgage, and you offer the mortgage co less than what you owe, and it sounds like it could affect your credit. Sure- I’d love to make money on this house, but when it comes down to it, if it doesn’t sell, I’m willing to just get out without owing anything. Thanks in advance for your help!
