I know that there are many sharks swimming around with post-BK lists
in their hands (fins?). However, we received a letter from a famous
nation-wide realty service about what amounts to selling our property
and arranging to pay off the mortgage companies, thus avoiding
foreclosure.

Now, I know that we would not see anything out of the sale money wise.
Anyone here avoid foreclosure by this method? Would you even
recommend it?

Thanks.

I don't think any of those offers have to anything to do with them buying
the property and then doing a "short sale". I think they have to pay off
the mortgage balance(s) and any other liens in full when they buy the
property from you. But, I guess it's possible that an investor would be
willing to make some kind of deal with you where they pay the back payments
to bring the mortgage(s) current, then they keep the mortgage current, rent
it out, and later sell it. But, I'm not sure that all of the numbers would
add up.

"Sharon" <torgo7@comcast.net> wrote in message
news:632c3647.0308101055.451cc090@posting.google.c om... I know that there are many sharks swimming around with post-BK lists in their hands (fins?). However, we received a letter from a famous nation-wide realty service about what amounts to selling our property and arranging to pay off the mortgage companies, thus avoiding foreclosure. Now, I know that we would not see anything out of the sale money wise. Anyone here avoid foreclosure by this method? Would you even recommend it? Thanks.