Looking for some info...
All things equal, which workout option typically hits your credit rating harder--a deed in lieu or a short sale?
Bought my home in Florida for $221k and now it's worth $130k. I have since had to move to take a job paying less money. My wife and baby spent a month in the hospital due to pregnancy complications, so we lost several months of her income due to that. I had been able to rent out my previous home, but now the tenants are gone and I can't find any new ones...so I'm in eminent danger of default.
I've tried to work with the Citi folks, but every time they tell me that they can't help me because I'm current on my mortgage.
I would love to keep the house, but I can't afford it any longer.
Should I go into default and try to get a mod--or should I just send in the keys and walk away?
I absolutely HATE how bad this eats aways at you as you lay in bed each night!
Thanks for the help! Y'all are amazing!