Homeowners can pursue a market sale of the home if they have equity. This is generally the best outcome for a homeowner who is unable to stay in the home.
Key issues to consider
- The homeowner should be aware of scams such as straw buyers or deed-theft scams.
- The homeowner will need to retain a real estate agent and list the property. Make sure the homeowner understands the importance of doing this in a timely manner if keeping the home is not an option. The client may want to delay this process if he or she still has hopes of obtaining a modification, but delays can lead to additional costs.
- The homeowner will need to hire an attorney to represent their interest.
- The homeowner MUST be ready to move out upon sale.