Posts Tagged ‘Stay’

Modify loan, stay in home

Tuesday, June 2nd, 2009

Modify loan, stay in home

Dear Real Estate Adviser,
I am giving my house back to the bank. Can they go after my savings? What about other assets? I am near retirement age.
— Kitty

Modify loan, stay in home

Dear Kitty,
Depending on the state where you live, the bank could conceivably come after your savings through a deficiency judgment. However, these days there’s a better-than-average (more…)

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Stay in home if upside down

Friday, March 27th, 2009

Dear Debt Adviser,
What information or advice can you give us in regard to an upside-down home loan? We purchased our home in Fresno, Calif., just a few months before the beginning of the housing price burst in 2007 and put a 20 percent down payment on $600,000. Our home is now devalued to $400,000, and we are upside down by $60,000. Are there any programs or relief for these situations?
(more…)

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