Posted on: 31st Aug, 2009 12:32 pm
my husband is working for a company. Their sending him out of state to work at one of their other companies. Our house is worth less than what we owe. We can't sell it because we would not be able to make up the difference to finish paying off the house. Same for a fast sell. We also would not be able to use a property management company, because we would not be able to pay mortgage payments when the renters didn't, the house was in between renters or, pay for the upkeep on the house. What would be our best options?
gsmail1975
Welcoem to the forum
Best option is to call your bank and see if they can help you with loan modification
Explain yoru situation and they may be able to lower your monthly payment and you may be able to rent it out
Good luck and feel free to ask
Welcoem to the forum
Best option is to call your bank and see if they can help you with loan modification
Explain yoru situation and they may be able to lower your monthly payment and you may be able to rent it out
Good luck and feel free to ask
I THINK SECOND OPTION SUGGESTED BY REALGENI IS BETTER. YOU CAN RENT YOUR HOME TO GET PAYMENT AND YOU CAN PAY YOUR MONTHLY INSTALLMENT.
since you are moving out, best option is to rent it out.
apart from that you can go through various loss mitigation option. you can refer http://www.mortgagefit.com/loss-mitigation.html for it
apart from that you can go through various loss mitigation option. you can refer http://www.mortgagefit.com/loss-mitigation.html for it
Lets us know how it goes