Upcoming Foreclosures

WIll a bank trade my condo for there house ?

I would like to swap for a bank owned house. I still have equity in my condo, Would a bank consider this an option if they have a property that's about 100k more than my condo. I would refianance with that bank. With foreclosures happening everyday here in Las Vegas . To me it's a win win situation for the bank to move a higher price property and get my loan .

Public Comments

1. If you can convince their foreclosure department that you have a great deal for them, it is doubtful. I haven't seen enough in your post that would convince me you have a win-win situation.
2. I am not sure this fits the business plan for a bank, Might not be in there charter to allow exchange, as it is a tax problem and IRS could get involved. Also is easier to sell a house than a condo. as you know... It is not a win win situation for them, but for you.
3. Okay, the key words here are Las Vegas. The last thing a bank wants on their portfolio today is a condo in Vegas. You can't just "swap" things, this industry is not a "swap meet." Furthermore, you cannot refinance a property you do not own, so you would have to sell yours and buy theirs. Let me guess the reason you are looking for a house... you can't sell your condo, right? Why would the bank want it? Your mortgage for a piece of real estate that is overvalued and overmarketed? It's econ 101. And people wonder why we are in the mess we're in.
4. No. The bank doesn't want ANY real estate and especially not a condo in Las Vegas. There is no way this will work. good luck!