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Answers (6)
you should be glad you didn't buy in dubai! there if you quit paying your bills, you get put in jail!
- CORONA NICK
- Contributions:2218
Walk.
- Dave Mason, "DebtFreeDave"
- Contributions:1315
You cannot refi, you only option would be a loan modification.
- jimmy hendrix, "lkjoiut"
- Contributions:4
A few simple options are:
1) Loan Modification. Depending on who your lender(s) is/are, you may be able to contact them and negotiate a loan mod, even if you are not yet delinquent on your payments. It can be tricky getting to the right department, but could be well worth your time to make a call to your lender.
2) Hope For Homeowners. This is a federal program. Although not all lenders are participating, more and more are, so it's worth asking your lender about this even if you don't see the lender's name listed.
3) Short Sale. Get approval from your lender(s) and sell the house for less than what you owe.
Good Luck
1) Loan Modification. Depending on who your lender(s) is/are, you may be able to contact them and negotiate a loan mod, even if you are not yet delinquent on your payments. It can be tricky getting to the right department, but could be well worth your time to make a call to your lender.
2) Hope For Homeowners. This is a federal program. Although not all lenders are participating, more and more are, so it's worth asking your lender about this even if you don't see the lender's name listed.
3) Short Sale. Get approval from your lender(s) and sell the house for less than what you owe.
Good Luck
- Group_E
- Contributions:6
Is your passport valid?
Seriously, if you can afford the payments....I think the right thing to do is pay the bill as you agreed....and hope for the best that the value comes back over time.
If an employment status has changed or if you have another cause for financial distress, contact your bank and ask them how they can help. If your rate is higher than current rates...they should hopefully offer a loan modification at a minimum. Good luck.
- Larry Jacobson, "Clearpoint"
- Contributions:1214
Can you afford the payment?
I am upside down bought house for 645K now worth 380K ? cant refi. what are my options?
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