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Profile picture for cyberbuoy

If I am underwater on my home -

Loan Amount $ 187 K. Home Zestimate $124 K - What are my options? What should I be doing or not doing right now. Sorry am hardly informed about my situation as a home owner but see some valuable opinions out here on the website.
  • November 29 2009 - Coronado
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Answers (1)

Profile picture for Bentley Advisors
Just because you are upside down doesn't mean you must take action. If you are experiencing hardship and fear inability to continue pymts, here are some options.

1. Keep your home and find a way to keep making pymts.

2. Bring cash to the table and refi using Making Home Affordable.

3. Apply for a loan modification w/ your current lender.

4. Rent your home and make up any difference.
 
5. Short sale your home. Destroy your credit. Walk away.

6. Stop pymts. Destroy your credit. Lose your home to foreclosure.


Good luck. 
  • December 01 2009
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