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owe 219K and house valued at 134K, do we have options?

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August 01 2011 - Anderson
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Profile picture for shasta_steve
Depends you may be able to get a loan mod, short sale or just walk on the loan.  Not nearly enough information to give you any ideas.  California is a non-recourse state for purchase money loans that have not been refinanced.  It is much easier to short sale or walk on a non-recourse loan as there is much less risk to you, other than your credit. 
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August 01 2011
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Yes, if it is an FHA or VA mortgage. If not, then you need to work on a loan modification
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August 01 2011
 

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