In answer to the comment about rent... it will always be a loss. We are only taking in 1/2 our payment needs. I cannot see the market moving that much nor fast enough for us to benefit. We just resigned our lease where the renter asked us to take the rent down by 20%!
And in answer about loan modification... our main interest rates are good. In fact 1 just adjusted down into the 3's due to the LIBOR index. I also was laid off from my job in July so was unemployed when evaluating modification (am newly hired).... so no job or a new job counts against you. As does these properties being an investment property and not our primary.
Question - will 2 foreclosures hit us twice as hard? We are listed on both mortgages.... more