Loans, Debt & Credit - View Single Post - Strategic Default in CA... What's the best route?

snapple candy · 11-01-2009, 08:53 AM

tricia,
If you and your hubby have jobs, you might be able to get some kind of modification in your payments. Although it is unclear what if any hardship you have to justify a reduction in payments. The big question is, if you could make the payments before, why cant you make them now? If you want out since it doesnt make sense to hold onto it and its a business decision, I suggest going over to the other threads regarding walking away for addition info and covering your butt on this.
They usually wont do anything until you go delinquent anyways. No reason you cannot do this as a tandem effort. Id go ahead and put in mod application and see where it takes you, meanwhile consider and plan for all other options.

Personally, I would continue paying HOA. Taxes can be addressed at a short sale and I dont think would effect it.

11-01-2009, 08:53 AM	#2 (permalink)
snapple candy Senior Member Join Date: Feb 2009 Posts: 1,777 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Strategic Default in CA... What's the best route? tricia, If you and your hubby have jobs, you might be able to get some kind of modification in your payments. Although it is unclear what if any hardship you have to justify a reduction in payments. The big question is, if you could make the payments before, why cant you make them now? If you want out since it doesnt make sense to hold onto it and its a business decision, I suggest going over to the other threads regarding walking away for addition info and covering your butt on this. They usually wont do anything until you go delinquent anyways. No reason you cannot do this as a tandem effort. Id go ahead and put in mod application and see where it takes you, meanwhile consider and plan for all other options. Personally, I would continue paying HOA. Taxes can be addressed at a short sale and I dont think would effect it.