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My interest only mortgage loan is for approx. $40,000 more than the market

value of the home.   I have to move.  What can I do?

  • March 01 2009 - Mount Vernon
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Answers (4)

Look into a loan modification

  • October 22 2009
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Pay the balance down at closing, short sale, deed in lieu, rent the property, pay the mortgage, or not moving are all options. I'm not sure which makes the most sense based on your exact situation.
  • October 21 2009
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So whats your problem?
  • October 21 2009
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Definitely get a CMA from a local agent first to make sure the value of your home is correct.  If it is, you could keep the home as a rental until the value comes back up.  If you can't make anything else work, a short sale is a possibility.  Email me if you need more help.
  • March 01 2009
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