Posted on: 12th Aug, 2009 05:41 pm
Hello,
I was wondering what you thought about this senario. I am unemployed for 8 months. Upside down in a waterfront home. Still current but have not made the Aug payment. I have been making the payments and living off of savings that are about gone. Home next door, same size, but it has a larger garage and more water frontage JUST SOLD for $100,000.00 . . . I owe almost twice that! I am thinking about just letting it go into foreclosure. But I would hate to ruin my credit any more. What to do?
I was wondering what you thought about this senario. I am unemployed for 8 months. Upside down in a waterfront home. Still current but have not made the Aug payment. I have been making the payments and living off of savings that are about gone. Home next door, same size, but it has a larger garage and more water frontage JUST SOLD for $100,000.00 . . . I owe almost twice that! I am thinking about just letting it go into foreclosure. But I would hate to ruin my credit any more. What to do?
bonehead
You cna check if the lender agrees for Shortsale, or you cna ask for Deed in lieu.
Good luck and feel free to ask
You cna check if the lender agrees for Shortsale, or you cna ask for Deed in lieu.
Good luck and feel free to ask