Letting Go of a Home in MD to Relocate

My husband bought the home we live in now before we got married. We were together, but I didn’t live here at the time. When he bought this house, he had a great job, and he could afford it. However, in recent months, the industry that he works in has been laying off workers, and there isn’t any comparable work in this area. None of the jobs around here pay the kind of money he was making with the other job he had. We weren’t prepared for a job loss, and my income is not enough to take care of the bills and the house payment. We wanted to live in this house forever and didn’t plan on ever having to relocate.

 

 

We started looking into our options as far as what we can do about selling it. Since we’re no longer able to make the payments, we have to figure out something that we will be able to do to sell the home. We don’t want the bank to foreclose on our home because we know that would make a huge negative impact on our credit.

I went online and started looking into the options that we had. That’s when I came across a Maryland short sale company website that contained lots of helpful information. After discussing this with my husband and how a short sale works, he said he wants to look into it more.

The Process


He went to this short sale website to see what he could find out about it. He said it sounds like the best option at this point and it is going to be the only way to save our credit.

Our next step is to contact the bank to see what they can tell us about this process and how it works. We are hoping that it is something our bank offers and it will be an easy process for us. It has to be better than allowing a home to go into foreclosure so I’m not sure why a bank wouldn’t offer to short sale our property.

We have decided that after we figure out what to do with this home, we are going to rent until we can find another home we want to buy or our financial situation improves. We are contacting Maryland Short Sale Company to help assist us in this process.

Related posts