Posted on: 07th Aug, 2010 06:55 pm
I am active duty military and have to rent my home because the military moved us away. We are struggling to make the mortgage payment and want to know what programs are available to help lower our payments or even assist us in selling the home. We are current on the payments but have no money left at the end of the month. We are renting a home to live in at our currrent duty location. We owe more than the house is worth -it is located in California.
Welcome jhollyd,
If you want to get rid of the property, then you can sell off the property through a deed in lieu of foreclosure. You need to contact your lender and apply for the same. However, most lenders would consider this option only when you're 2-3 months delinquent on your mortgage payments. However, as you are an active duty military and due to genuine problems, you had to move away, the lender may consider your request.
If you want to get rid of the property, then you can sell off the property through a deed in lieu of foreclosure. You need to contact your lender and apply for the same. However, most lenders would consider this option only when you're 2-3 months delinquent on your mortgage payments. However, as you are an active duty military and due to genuine problems, you had to move away, the lender may consider your request.
JHolly,
Is the current mortgage on the property a VA loan? If so you may have options.
Is the current mortgage on the property a VA loan? If so you may have options.