need advice on what to do next.

theunbound1 · Joined: 24 Aug 2008 Posts: 1 1.63 Dollars($)

i bought this home for 140000 5 years ago with a monthly payment of 1000 fixed. escrow escalated it to 1140 a month. now we were late on a payment, so as punnishment the mortgage is now 1440 a month. this home it not worth that much a month. i wish to not pay them a dime more and move out of this house. ive had to fix almost everything they have installed when they built it anyway. can i put this home up for sale and look for a new home. i can get a nicer home on lakefront property for half of what im paying now.

jenkin7 · Joined: 04 Jun 2007 Posts: 939 140.80 Dollars($)

Hello theunbound.

Welcome to the forum.

If the mortgage payment seem higher to you and you cannot afford the payments then sell it out to pay off the mortgage company. BTW if you go for short sale then the mortgage company can come after you for the deficiency judgment.

Have send any home on lakefront property? Why don't you contact with any real estate agent?

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