Hello,
My
name is Brett. My wife and I have split up last year in January. I have
two mortages..one for $248k and onther for $100k. Monthly payment in
the amount of $2,500. The house has been quick claim to myslef; but I
finding it difficult to pay rent as i am dipping to my credit cards and
wipe out my savings to pay for other bills. I owes 348k but the value
of the home is aprrox. $240k. I am current on all payments; but cna;t
afford to keep the house. What should i do?
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Comments for
I Can
not Afford to keep my house. 10521 Sun Palace Court
Feb 14,
2008
Foreclosure Options!!
by:
David
You're in a very difficult situation, but because you are not late on
payments yet, you still have a full round of foreclosure options
available to you.
Brett
- please call Ethical Foreclosure Solutions or do more research on this
site. The quicker you can call and find out what your options are, the
better and more informed decision you can make.
In
your case,
the house is worth much less than the mortgage on the house. You are
definitely not alone and you do have options. The country's real estate
market is in dire straits with plunging house values and increased
levels of foreclosures and personal bankruptcies. However, mortgage
companies are scrambling to change their own procedures and offer
individuals in situations just like the one you are in.
Unfortunately,
none of the options can help increase your house value, but the
mortgage lenders don't want to lose a good customer like you. However,
if you just call the mortgage company, they won't know how to help you
because you are current! The average call center representatives deals
with individual loan issues and concerns and doesn't really look at
your strategic financial situation.
This is why
you the
representatives here provide so much information to people in your
specific situation. We do want to help and we want you to know what
your specific options are. And - now is the time to check these options
out. Everyone's primed to bend over backwards, including the mortgage
lenders, the local real estate tax collector and even Congress.
Good
luck Brett and keep us up to date.
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