Sep
13

I’m a homeowner who can afford monthly mortgage payments, but I am upside down in my loan. What are my options

By
homeowner loan

We’re down about 100k, so what are our choices besides foreclosure or a short sale, neither of which we want to do. I need to get out of our house!

Repossession
Categories : homeowner loan

4 Comments

1

Not in a good position at this time for sure. What is the rental markets like…can you rent it out for more then the mortgage…or pay most of The mortgage and make up the other part. How about refinance…or talking to the bank.If not…guess…you lose….Tagger

2

If you need to sell but want to avoid a short sale you need to come up with the difference before closing. The other, better option, is to rent it out for now and sell it in a couple of years after the market corrects itself.

3

Short sale is your best option. This will save credit standing if you can do it. You will need the blessing of your lender.

4

hard money lending maybe? check out

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