Upsidedown mortgage in california, need to refi--foreclosure the only option?

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I would try hard to hold onto the property. Eventually, there is going to have to be some sort of bailout program available, which will help your situation.

To the rest of the people reading this, STOP BUYING CONDOS! There is a reason these things are historically difficult to resell, and they are extremely vulnerable to market swoons. They are a terrible investment. Just because all your friends are buying them doesn't mean you have to.

Stepping off soapbox.

Upsidedown mortgage in california, need to refi--foreclosure the only option?

If you are past due, try asking your lender about a forebearance agreement. Please visit our website for contact information and I can try to help you: www.docfunding.net Report It

Upsidedown mortgage in california, need to refi--foreclosure the only option?

Try a short sale.

Upsidedown mortgage in california, need to refi--foreclosure the only option?

Try this...

1. Ask your lender for a rate & term Refinance. No cash out. Try to get the monthly reduced as low as possible. Why?

2. Sell property using CREATIVE FINANCING. Let someone else take on the monthly payments, maintenance expense, HOA, etc.

3. You'll get A LOT MORE per month than just renting.

4. Give tenant-buyer as long as they want to re-fi into their own name (you need YEARS for property to go appreciate back up).

5. If you're in So. Cal. (I'm in Cerritos), I can help.

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Upsidedown mortgage in california, need to refi--foreclosure the only option?

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