Posted on: 20th Oct, 2010 01:23 pm
If i am 50% under water -- owe more than 150% of the current value of the house, is there any reason to seek loan modification? or should I go for short sale?
Wow that is a lot. The DU Refi Plus program helps homeowners who are under water but not that much under. Hard to say what you should do without knowing more about your personal situation. For example, if you like the home and you can make the payments...then maybe stay. Especially if your rent payments (wherever you go) are going to be close to what your mortgage payment is right now.
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