I would start planning on the possibility of needing to move. If the home you are renting gets sold at the auction or by the bank afterwards there is a possibility that the buyer of the home will be an investor and may let you stay in the house as their tenants.... more
There is intense pressure on lenders to work with owners and offer more loan modifications. It's certainly worth a try. Short sales are possible for non-owner occupied properties, too. If you'd like a referral to a short sale and foreclosure real estate expert in your area, please feel free to contact me.
With warm aloha,
Susanna Kunkel, RA
Kauai Foreclosure & Short Sales Specialist... more