Foreclosure University Forum


Short Sale home to husband

by foreclosureuniversity ⌂ @, Monday, January 25, 2010, 13:58 (3464 days ago) @ jgquery

� Is it possible to short sale my home to my husband> We live in CA. and I'm
� the only person listed on my loan documents. We both live in this house
� and would like to keep the house. The value of the home has dropped well
� below the price I paid for it. So, if I was able to short sale the home
� to my husband, the price and interest rate would be much lower which would
� give us a payment we could handle. Is this possible>

This is a No No...Banks frown on this big time. The short sale transaction needs to be arms length meaning your relatives or family are not involved. Especially with what you are trying to do here. Your best action might be to do a loan modification where your lender will lower the interest rate on your mortgage so your payments will be lower.

Good Luck

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