Loan Modification Forum - LoanSafe.org - View Single Post - Strange situation -- success with caveat -- HELP needed!

AZChick · 07-04-2009, 09:45 AM

Wow, I'm not sure but find this very interesting. So basically you'll be on the hook for 110K whenever you choose to sell the house? Does that mean that it is now going to be a recourse loan once you try to sell the house? Wow, that is a bit troubling. Personally I don't know if this is something I would consider, way too many risks involved especially with the Mortgage Debit Relief Act ending in a few years....

07-04-2009, 09:45 AM	#2 (permalink)
AZChick Senior Member Join Date: Dec 2008 Posts: 247 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Strange situation -- success with caveat -- HELP needed! Wow, I'm not sure but find this very interesting. So basically you'll be on the hook for 110K whenever you choose to sell the house? Does that mean that it is now going to be a recourse loan once you try to sell the house? Wow, that is a bit troubling. Personally I don't know if this is something I would consider, way too many risks involved especially with the Mortgage Debit Relief Act ending in a few years....