Just walk away Renee. If you can't pay that mortgage, what can you do. There is a limit to torture, next stop is the Bronx Zoo, because they're after you. When things get really bad, it is time for a Forensic Loan Document Review. Get some help to get a real Home Loan modification. You can, for real, get Foreclosure Protection.
The script is that you bought into the real estate market to invest, or you bought your own house within the last ten years. You find it impossible or verging on the impossible to pay your mortgage payments on time. You also have little or no equity value in your home. This happens in many cases. People have gotten into Interest/Only loans and Adjustable Rate Mortgages. They have been having fun for 5 years, and now are getting hit with high monthly payments, and in addition have little or no equity in their home. They are having trouble selling for a decent price.
You have got nothing to lose and nothing to prove, and want to find a legal and easy way to walk away from this lousy investment. It really wasn't so bad, because they got to live in or rent out a house in many cases for 5 years or so, and now it is the end of the line. This is advice from my friends at http://www.youwalkaway.com and they mean business.
Monday, November 10
Real Estate and the Walk Away
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