I know both are bad on credit, but is the short sale, a teeny bit better, at least? Also, house is not in my name, so my credit won’t be affected… we can use mine in the future to buy a house when we are ready.
my wife lost her job and we barely making the payments on all my bills especially my mortgage its only five years old no equity yet
my mortgage company has offered me a package to avoid foreclosure of my home. This package will leave me virtually no monies to pay any of my other outstanding debts which include my car payment – a car I need desperately in order to get to and from work – a drive of 20 miles each way. It also leaves me with little to eat on or maintain the daily expenses that life brings such as electric & gas bills. Am I better off just accepting the foreclosure and getting out of the house. And if so, what will this do to me in regards to getting any credit in the future.
my mortgage company has offered me a package to avoid foreclosure of my home. This package will leave me virtually no monies to pay any of my other outstanding debts which include my car payment – a car I need desperately in order to get to and from work – a drive of 20 miles each way. It also leaves me with little to eat on or maintain the daily expenses that life brings such as electric & gas bills. Am I better off just accepting the foreclosure and getting out of the house. And if so, what will this do to me in regards to getting any credit in the future.
He moved out when we separated and had been making half of the payment. Can I refinance, borrow enough to pay him off his half and get him off the loan? I don’t want to sell and move.
I have a townhome in Miami and need to sell it since Countrywide has increased the payments from 2,500 to 3,400. I just cant pay this property and now I have to sell it ASAP. I havent been able to pay for over 4 months and now that I finally have a buyer Countrywide is sending a payoff of over $326k when it was suppose to be $295k!!! They want to charge me penalties and other stuff but I am trying to avoid a foreclosure .. why cant they work with me here and waive some of the penalties or costs ??? Somebody help me … any advice?
I am not in foreclosure yet, but I recently lost my position and we have very little savings so I don’t know that I will be able to save my house. We just got into our home in July and then my company lost a major account and I was out of work. I am doing sales now, but that is commission based and slow to pay. I have no equity in my home per se, and i live in California. I guess I’m wondering with the market the way it is, it might be better to walk away and try again in a few years.
my 1st mortgage wants $7000 to modify my loan. This will drain my savings and I will probably be right back where I started. I have and 2nd mortgage as well. Is there any way of refinancing with this on my credit report?
Refinance against what equity?
TA-