Financing in 85310>Question Details

Ida, Other/Just Looking in

we were looking to re-financial but just find out we own more then the house value do to the market... what?

Asked by Ida, Mon Jan 14, 2008

can we do since we are over spending every mos.

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Is your over spending due to adjusting rates in your mortgage or just over spending? Your mortgage and or equity (lack thereof) is not a bank account. If you have an adjustable rate you can discuses this with the bank “workout department”. Let them know there is no way you can keep up the payments at this rate and you might find someone willing to lengthen your term i.e. 30 to 40 yrs or you might be able to skip a month. Just keep in mind that banks are in the business to make money.
Web Reference: http://bradbergamini.com
0 votes Thank Flag Link Wed Jan 16, 2008
I would search all the questions on this forum about "short sales". There are so many good answers i would hate to repeat it. There are options

Good Luck
0 votes Thank Flag Link Mon Jan 14, 2008
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