How can i sell my house if I am behind on my mortgage payments?

Question by LM: In a HARP loan is it a requirement to have an Escrow account (taxes and Insurance)?
I’m refinancing to a HARP loan and my lender is telling me it is a requirement that my taxes and insurance need to be added to an Escrow account. I don’t want an Escrow account (and don’t have it on my current loan).
I’m in California. Does that link still apply? I think that is just NJ.

Best answer:

Answer by mbrcatz
Yes. HARP refinancing requires that taxes and insurance are escrowed.

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Question by SpellCaster: How can i sell my house if I am behind on my mortgage payments?
I have my home financed through VHDA, order I am behind on my payments , price can I put my home up for sale to pay off the balance left on the total amount of the payments and still have money left?

Best answer:

Answer by leah_ifft@sbcglobal.net
In most cases, yes.

As far as having money left over…it all depends on the real estate market in your area, the value of your home and how much you still owe on your mortgage.

I highly recommend working with a realtor. You’ll sell your house faster and probably for a higher price than if you tried to do it on your own.

Also, keep the lines of communication open with your mortgage company. While you’re trying to sell your home, see if you can work out a repayment agreement with them, so you don’t fall even more behind on your payments. You wouldn’t want them to foreclose on your home before you can sell it. If they have already started the foreclosure process, you may be able to work out a “short sale”. This is where you have a buyer for your home, but the amount they are willing to pay is less than the payoff amount of your mortgage. You will not get any money back, but you will be free of the debt and you won’t have a foreclosure listed on your credit report. I don’t recommend going that route alone. You will definitely need the help of a realtor, attorney, title company or all 3.

Best of luck.

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