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

AZChick · 07-06-2009, 04:32 PM

I agree with dogatemy, they will make sure they get their money. Also, when you even factor in the realtor fees from selling it, you will owe money. It just seems way to risky. Also, assuming that the property will appraise at a rate of 6% a year is way too risky. I'm sure there'll be a lien on the house. If you love the house and plan to stay forever go for it, if not, this is a very gray area. Also the MFDRA will expire in 2012 I think, so if you're thinking of walking before it's too late you should be aware of that.

07-06-2009, 04:32 PM	#9 (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! I agree with dogatemy, they will make sure they get their money. Also, when you even factor in the realtor fees from selling it, you will owe money. It just seems way to risky. Also, assuming that the property will appraise at a rate of 6% a year is way too risky. I'm sure there'll be a lien on the house. If you love the house and plan to stay forever go for it, if not, this is a very gray area. Also the MFDRA will expire in 2012 I think, so if you're thinking of walking before it's too late you should be aware of that.