Quote:
Originally Posted by AmbitiousSaver
But she quoted $22K loss when we owed $252K... so I guess I'm looking at $19K loss now. Question though is... where/how would I find the money to come up with $19K at closing if I got $250,000?
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Talk to your local bank or credit union. With good credit you may be able to get an unsecured personal loan. The interest rate will be high but this should be one of the first debts you tackle so hopefully it will not cost you much as you pay it down quickly. You should also consider the short sale although if your HELOC is through a different bank than the 1st mortgage, the HELOC lender will likely not go for it (since they will end up with nothing). But don't assume that, after you put it on the market and start to get offers then you can talk to the banks about the short sale.