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markimhixon · Joined: 07 Mar 2010 Posts: 1 1.33 Dollars($)

Me and my husband own a home in Detroit since July 1998 and since then the area has become dangerous and our kids is not allowed out to play. When have paid our mortgage payment on time we had 2 late payments we want out and another house in a better area. We both have have good jobs just don't know what to do because our house is not worth what we owe.

Niicss · Posted: Mon Mar 08, 2010 1:40 am Post subject:

If you want to get rid of your property, then you can apply for a deed in lieu of foreclosure with your lender. You will be able to sell off the property provided your lender accepts your request. However, your score would go down by 250 points and you won't be able to get a mortgage immediately after it. You will have to wait for 3-4 years in order to get a home loan.

marcusbradychl · Joined: 03 Mar 2010 Posts: 6 1.99 Dollars($)

home loans are helpful for people to buy a first time a dream house and just to fulfill our requirement. it is also helpful to renovate a house , construction and building.

jburke · Posted: Wed Mar 10, 2010 8:21 am Post subject:

If you want to buy another home and move you may want to consider renting your current home instead of doing anything that will negatively impact your credit.
The main issue will be whether or not you can qualify for the new mortgage with your current mortgage payment included in your debt to income ratio.

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