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what do I have to do with a home that I bought for $ 145000

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paularoro Joined: 16 May 2009 Posts: 3 1.77 Dollars($)	Posted: Sun Oct 11, 2009 6:33 pm    Post subject: what do I have to do with a home that I bought for $ 145000 Like 0 Dislike 0 what is the best thing to do when your home value drop by 50%
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Sun Oct 11, 2009 10:21 pm    Post subject: Like 0 Dislike 0 Hi paularoro, A drop in the home value is a common phenomenon these days. There are many homeowners who are in the same situation as you. Do you want to stay in the property or leave it and move away to a different house? If you want to stay in the property, you can look for a loan modification. This will help you reduce your monthly payments on the mortgage. In case you want to move out, you can try to short sell the property. If a short sale does not work, you can request your lender to accept a deed in lieu.

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