Divorcing and owe too much on your house? Mortgage payments too high to handle?
Who to ask for advice?
Typically the first people turned to are relatives, marriage counselors, divorce lawyers, sometimes bankruptcy attorneys. Maybe the Realtor who helped you buy the house years ago will be called.
A Realtor who specializes in preforeclosure short sales should be on your team.
I am a Real Estate Broker right here in Louisville, specializing in helping sellers avoid foreclosure by negotiating with their lender to let the house sell for amount short of the payoff. This is called a short sale.
Short sales are a specialty within the real estate industry. It takes much highly focused training and years of experience to be the "go to" Realtor for short sales. I personally help dozens of borrowers avoid foreclosure each year by successfully procuring short sales from their lender.
I have helped many sellers in divorce situations sell their house via a short sale, thereby avoiding foreclosure.
Who pays the Realtor commission?
At the time of the real estate closing the foreclosing lender pays the Realtor commission out of their proceeds. I provide consultation to attorneys at no charge to the attorney or their client.
Numerous divorce attorneys encounter situations where the marital home is worth less than the market value, seemingly rendering it unsellable. In the meanwhile the mortgage payments become unsustainable and a heavy burden. This could cause additional stress and hostility to the divorce negotiations.
If you are in a divorce situation with an underwater mortgage, please call me at any time to (502) 664-7827
Many testimonials and references are available.