How to get rid of house???

Harris
Me and my husband own this house and we REALLY need to move for a lot of different reasons but we owe way more than its worth. My husband had to refinance the house before he married me because of his divorce. Are we stuck here forever??? Any suggestions?

Casie
You could do a short sale. This is when you (or your agent) talk to the bank and get them to agree to let you sell the home and payoff the loan for less than what you owe. Banks are doing this more and more to avoid the cost of foreclosure. Be careful though because you can wind up having to pay taxes on the remaining balance at the end of the year.

Rodolfo
Unfortunately you may be stuck. You can try and ask for what you owe and see if any buyers are willing to pay. If you're lucky you'll get a quick sale and hopefully break even.How about this idea: try renting out the house to cover your mortgage(s) until you can sell it outright? Move away but not have that former payment? It's an idea...You may be able to get someone to sign a Contract for Deed (or a Land Contract). It may be a way to get someone to agree to buy the home at the price you need.

Derick
You can sell the house for what it is worth and pay off any difference in cash. Other than that you are stuck unless you decide to quit paying and allow the lender to foreclose.

Roseanna
You could sell it for Full Market Value through Lease2BuyUSA.com. Its one of the few ways homeowners can still sell their house in today's market. So forever, can get shortened to only a year or two.

Dino
Yeah, you're stuck. Welcome to post-Bush America. OBAMA '08!