Forclosure alternatives

[ajk426]

My sister and her ex husband purchased a home when they got married. They have been divorced and she is now remarried and living in NY state renting an apartment. The house and mortgage is in Pennsylvania. She has had renters to offset part of the mortgage and has been trying to sell the house for over a year. Her renters are in the process of being evicted since they keep bouncing checks and are behind in payments. The ex husband is not on the mortgage and all the financial responsiblity is on her.
She has contacted the mortgage company numerous times to try and find a way to keep up with the payments, but without the rental income she is about 2 months behind. Does she have any alternatives besides forclosure? If the bank does forclose how will it affect her credit? Also, will it effect the credit of her new husband, as he is not on the mortgage?
Thanks for your help.

 

[HomeGuru]

She should sell the property on a fast sale.

 

[ajk426]

What is a fast sale? Where should she go to find out more about this? She has the property listed with a real estate agent, but there is not much buying going on where the property is located.
Thanks for your reply.

 

[HomeGuru]

Sell below market value so it sells fast. Offer a bonus to the selling agent.