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Answers (3)
- jmckayss
- Contributions:2
Thank you for the input, I am not in a good situation and have considered many alternatives. The advice given is sound and will help me in my decision making process.. best of luck to all. John
- Larry Jacobson, "Clearpoint"
- Contributions:1214
If the home is no longer your primary residence, which in your case you admittedly have now moved to Denver then the home is now considered and investment property. Your taxes will also reflect this.
Do you plan on going back to Eagle? If not consider selling the home.
Do you plan on going back to Eagle? If not consider selling the home.
- sunnyview
- Contributions:25139
There are very few options I've seen for non owner occupied houses. If you had to relocate for work, you might be able to get a short sale approved since that is considered a "hardship" by lenders. Call you lender, explain the situation and ask them if that is a possibility. You can also aslo about a loan mod, but often it must be owner occupied for you to qualify.
You can also see if any other govt sponsored options are available here. If not, you may need to seek legal advice to explore all options before anything happens. Most will consult for 30 minutes free or at a reduced fee. It is worth it. It is no fun living on the edge and it is very stressful too. If you can get your options and plan ahead that might help things just in case your renters don't/can't pay.
You can also see if any other govt sponsored options are available here. If not, you may need to seek legal advice to explore all options before anything happens. Most will consult for 30 minutes free or at a reduced fee. It is worth it. It is no fun living on the edge and it is very stressful too. If you can get your options and plan ahead that might help things just in case your renters don't/can't pay.
Loan modificatoin
Is there any way that I could qualify for a refinance? Anyone know anything? I have not missed any payments yet...
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