Help with short sale

I am Scott Huey. I currently have a fannie may loan serviced by NFCU. This is my home:

http://www.zillow.com/trk/ClkTrk.htm?link=%2Fhomedetails%2F17701-Curry-Branch-Rd-Louisville-KY-40245%2F73495357_zpid%2F%23%7Bscid%3Dhdp-site-map-bubble-address%7D&tp=73495357&ts=100&tt=7

I am currently not living in my home, my wife and kids are. I am getting a divorce. The court has ordered me to pay temporary child support and maintenance and I have been unable to maintain my mortgage payments. I have been trying to sell the home since Nov of 2010. I have not had any calls or viewings.

I'd like to arrange a short sale. I was just notified this week that the house is now in the process of foreclosure. I want to avoid forclosure if possible and attempt sale.

Can this be done? I have tried to call NFCU and they just give me garbage about needing an offer first.

My outstanding mrtg is roughly 396K.

Any thoughts?

Thanks,

Scott

Replies

Jeff Payne March 24, 2011 at 8:06am

Scott, do you have an agent? I looked online and it does not look like you are priced as a short sale yet. How many showings are you getting? Any offers? I would guess that you are overpriced for the market. NFCU is not going to be easy, expect to contribute to their loss with cash or promissory note.

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