Loans, Debt & Credit - View Single Post - Thinking about walking away here in FL and very confused

dudeobides · 08-20-2009, 01:03 PM

Hi AngelR, Your story is similar to mine! Last March I found myself (80/20)facing a Reset on the first (200k)with a 20% (50k) piggyback loan for downpayment... I found loansafe.org and went to work to figure it out... All the info you need will be right here on this Great Site! With MANY willing to share. You have a reasonable first @ 5.37. Why not try a lienstrip? With the second amount being unsecured at this point you can Legally have it stripped in a Chapter 13. Bankruptcy! This housing thing Will not get better anytime soon. Even if things turn around your still in a hole for about 61k on your first. How many years at 3% will it take to get back to Not Being Underwater? I say Too Long. Let them keep the loanmod, I'd want my life back! See a good bk atty like I did... Good Luck

08-20-2009, 01:03 PM	#4 (permalink)
dudeobides Member Join Date: Mar 2009 Location: florida Posts: 8 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Thinking about walking away here in FL and very confused Hi AngelR, Your story is similar to mine! Last March I found myself (80/20)facing a Reset on the first (200k)with a 20% (50k) piggyback loan for downpayment... I found loansafe.org and went to work to figure it out... All the info you need will be right here on this Great Site! With MANY willing to share. You have a reasonable first @ 5.37. Why not try a lienstrip? With the second amount being unsecured at this point you can Legally have it stripped in a Chapter 13. Bankruptcy! This housing thing Will not get better anytime soon. Even if things turn around your still in a hole for about 61k on your first. How many years at 3% will it take to get back to Not Being Underwater? I say Too Long. Let them keep the loanmod, I'd want my life back! See a good bk atty like I did... Good Luck