Monday, July 18, 2011

Is there any government help for home SELLERS?

I am trying to sell my home. I bought at the height of the bubble, and when it burst, my home immediately went under water. I've owned my home for 6 years now and still, my home is worth less than I paid for it. Now, I want to sell it to get out of my mortgage and downsize to something smaller. The problem is, my house will not be appraised for the amount I NEED just to break even with the bank and pay seller's fees and closing costs. My asking price is starting out more than the home is worth. So in theory, even if someone goes for my asking price, and doesn't negotiate at all, the bank may still not approve a loan because the house isnt worth what I need. What I wanted to know is, is there any sort of government grants or other help to assist a SELLER to get out of their home WITHOUT using a short sale or foreclosure. Am I out of luck? Is it possible that I will not be able to simply afford to SELL my home. I'm not talking about not making a profit. I am talking about the notion of me having to put money out of pocket to SELL. is there anything that can be done?

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