Hi Onelife welcome and thank you for joining the forum.
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We are ready to walk away from this house in Arizona, but before doing it wonder if we have a chance to get a reasonable mod of loan at all???? We are late on our first payment.
Thanks everyone for your comments
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It is going to be very difficult achieving a modification on your second property but it is not impossible. I would suggest to continue trying to modify the property as long as possible. If it just absolutely does not work out you may want to consider a short sale on the home. Always make foreclosure the last option possible...