Foreclosure in 34251>Question Details

Terizieschang, Home Seller in 34251

bought house for 285K put 40K down, 4 months ago did a modification with Credit Union. Ballon at 2yrs for 234K. Should we bail now?

Asked by Terizieschang, 34251 Mon Jan 18, 2010

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Why would you want to do this? If you are concerned about maturity date it might be time to look for a refi. Or try to work more with the credit union to see what you need to do the extend the term. Of course if you want to move on and don't want to stay in your house, find out what the value is and make your judgement from there.

Keith Manson
First Weber Group
Certified Distressed Property Expert
Metro Milwaukee
0 votes Thank Flag Link Mon Jan 18, 2010

You haven't presented any justification for bailing. Declining value alone is no justification whatsoever.
0 votes Thank Flag Link Mon Jan 18, 2010
Don Tepper, Real Estate Pro in Burke, VA
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