Short Sale??

[flower04]

We are looking at doing a short sale, as we owe about $40K more on our house that it would appraise/sell for. We have meet with some very experienced realtors in our area to gather this information. We are looking at a CH7 because my husband is being laid off. We were doing a 13 and keeping the house but now it is too much.

We have an electrical circuit that needs to be fixed before we could sell the house, but haven't done it because of the cost...it wouldn't pass inspection without being fixed...does that make a difference if we do a short sale.

[HHM]

If your filing chapter 7, there is no reason to do the short sale, just let the house go.

[justbroke]

I can answer this one in one word! No!!!!!

(Also, do no repairs either! If you're really filing Chapter 7... just be done with it!)

[Mi Bankruptcy]

It would matter if your putting on the market. Now that you know it's a problem you must disclose it if your using a real estate agent. if your going to let the house go that's the banks or the new owners problem.

[flower04]

Anyone heard of Cash for Keys from Chase??