| Re: CW and Obama Plan
Carona:
Given your situation, I would recommend that you come over to the "walk away" forum and post your situation, specifically answering the questions below. Speaking from the perspective of "teacher to teacher," you know as I do that you shouldn't make a decision without knowing all of the alternatives. Without having an understanding of your rights under California law, the decisions you make relative to continuing forward or accepting modifications may not be in your best interests.
Questions:
1. What is the fair market value of your home?
2. With regard to the loans on your property, what is the current balance of each, and were the loans created at the time you bought the home and their entire proceeds used to buy the home.
3. At the time you bought the home did you intend to occupy it as your primary residence.
Daniel |