Loan Modification Forum - LoanSafe.org - View Single Post - Two homes and the Making Home Affordable Program.

Harasboa · 07-07-2009, 03:43 AM

I am upside down on my rental property about 90,000 +. I'm not sure of the specifics of a short sale (do you owe differential of sale/loan) so haven't thought of persuing that option yet. If worse comes to worse though, it will definitely have to go because I will lose rental before losing my primary residence. I was current on both properties until June. I missed my first payment on my primary residence (rental still current). I choose to pay rental over primary because I figured I had a better chance of getting modified. Do they modify rental properties if they are negative cash flow?

07-07-2009, 03:43 AM	#5 (permalink)
Harasboa Member Join Date: Jun 2009 Posts: 8 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Two homes and the Making Home Affordable Program. I am upside down on my rental property about 90,000 +. I'm not sure of the specifics of a short sale (do you owe differential of sale/loan) so haven't thought of persuing that option yet. If worse comes to worse though, it will definitely have to go because I will lose rental before losing my primary residence. I was current on both properties until June. I missed my first payment on my primary residence (rental still current). I choose to pay rental over primary because I figured I had a better chance of getting modified. Do they modify rental properties if they are negative cash flow?