Posted on: 26th Jan, 2010 04:54 am
I HAVE A 2ND MORTGAGE,29,000 THE 1ST 79,000 IF I STOP PAYING MY 2ND, WOULD THEY BUY THE 1ST FORCLOSE, THROW ME OUT, I PAY MY 1ST. LATE NOW 2 MONTHS ON THE 2ND, MY HOUSE IS NOW ONLY WORTH 80,000
WAS LOOKING IN TO SELLING IT BUT THE LOST IS ABOUT 36,000
WAS LOOKING IN TO SELLING IT BUT THE LOST IS ABOUT 36,000
Yes. Real estate is a long term investment. If you are underwater now, you may not be tomorrow. Keep paying your mortgages and your real estate values will increase in the long run.