Compare Mortgage Quotes

buffetaz · Joined: 24 Aug 2009 Posts: 6 4.45 Dollars($)

i have a house that i refinanced 3 years ago it was appraised at $400k and refi loan was $340k i now need to move so we can live where my children go to school house is probably worth $240k what are my options in getting out since i will move no matter what for my children so what are all my options and i live in Arizona. i can also afford my mortgage so hardship will not work. i would like to short sale but if i have to i will just walk which i do not want to do.

gunzijjistaff · Joined: 07 Apr 2009 Posts: 712 4.51 Dollars($)

Hi buffetaz,

Welcome to our forum.

As you say,i think if you selling this house you will loose $160K.Here i have one option for you, Give your house on rent. If you wish to short sale it you can do it, but you loose property & $160K.

Thanks & Regards.
gunz.ijistaff
________________________________________________________________
You can ask your further queries to us at any time.This is the worlds largest Mortgage Community. Very Happy

Guest

first of all i would loose 100k if i short sale i would probably loose nothing since i would short sale and no deficienies in Arizona.

fredwaltz · Joined: 17 Aug 2009 Posts: 60 1.12 Dollars($)

if you are loosing $ 100 k and by doing short sell you need to shell out the deficient amount.So in my opinion if you can afford that amount ,considering your situation,(as you want to move anyway) I will advice you to go for shortsell as it will not affect your credit score.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Short sale will drop your credit score by 50 points

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

need to get out of house what are all my options