[quote=blew_it]UCGal: This is a financial decision. If I held out to the end of my ARM (another 2.5 years) I don’t think values would go up enough to enable me to refinance. I think I will have job trouble in the future and am just taking the hit now.
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As long as you are willing to take the consequences (credit hit from a forclosure), it sounds like you’ve thought things through. You are in a better position than many since you have a non-recourse loan.
As I said before – I’m not surprised the bank didn’t act in their own best interest. Long term views have gone out the window, it’s all about short term views. Xboxboy makes a good point – the person who got your file might not have any incentive to work with you – and it will be more work if they do.
