Posted on: 13th Jun, 2010 01:49 am
I have two houses, 1 in LA which still under loan modification thru StopBanks since Jan 09, 1st lender Countrywide, 2nd Indymac. The Loan Mod. took really long time and dragging me, I made trial payment to Countrywide every-month, but not guaranteed the mod. in fact, I just received the notice of intent to accelerate (Jun 2010), and no word yet from Indymac. If I have to foreclosed the house, what consequences I will be facing? will the financial burden haunt me for a long time? Will it affecting my 2nd house in texas which is now current? If it does, can the deeds transfer to my wife will solve it? FYI: I would love to keep my texas house. I will keep the 1st house if the mod. fit me, otherwise I am ready to let go.
Thank you for the help.
Thank you for the help.
thx for the response oswingrant. my 2nd house is single family dwelling and its rented out. so i guess i should do the quit claim deed.
anybody else in this forum that have something else to say that can educate me are more than welcome to put it here and i will greatly appreciate that.
thx.
anybody else in this forum that have something else to say that can educate me are more than welcome to put it here and i will greatly appreciate that.
thx.