This is my first post but I have been lurking around for a while and really appreciate all the info this site has to offer. Now the question.
Here is my situation:
I am married and live in Washington State.
We have a 6 year old 80/20 interest only loan and have never been late on a payment.
1st is with M&T Bank and second is through WF. The first has been sold 4-5 times since we purchased the house.
Total owed on the house is $430k and Zillow shows the house value is $264k
We have perfect credit. Score 800-850.
I recently took a pay cut at work in order to keep from being laid off.
Now we are strugling to get by and with two kids in college it gets worse every day.
I have tried to modify but get nothing but BS and constant run around tactics played on us.
I was wondering if we decide to walk if there is any advantage to hiring a lawyer to fight every single step tooth and nail. I am so frustrated at this point and figure if we are going to wreck our credit I want them to pay for the madness they have put us through with all their evil tactics. I have read the entire Hampster wheel thread but have heard that foreclosures are moving pretty fast in Washington right now and M&T goes for the throat right away. I would like to get 18 months if at all possible.
Any help would be greatly appreciated,
Master Safe Cracker