Posted on: 30th Oct, 2010 06:03 pm
a new house next door (same model as mine) is selling for $160K. I pd 340K for mine 3yrs ago and owes 200K. Do you think I have any chance with the bank in trying to settle my debt for less? or better to walk away and buy the other fo 160K cash? thanks for any comments>
Hi rive55,
I will advice you to negotiate with bankers first and if they are reluctant to settlement then you should simply walk away and purchase a brand new with 160K .But again you should keep in mind that in order to purchase the new home you will still require to get a mortgage.....So your previous dealing of walking away could negatively impact your new deal.
Feel free to ask any further query if you have..........
DIPA
I will advice you to negotiate with bankers first and if they are reluctant to settlement then you should simply walk away and purchase a brand new with 160K .But again you should keep in mind that in order to purchase the new home you will still require to get a mortgage.....So your previous dealing of walking away could negatively impact your new deal.
Feel free to ask any further query if you have..........
DIPA