[quote=pemeliza]Many factors to consider. I would consider proximity to work for example. If you have a long commute that would be something that you could improve by renting.
Sounds like to me you are looking to a strategic default. Good thing you didn’t put any money down.
I would check with an attorney and see if there are any ramifications of doing the loan mod on your ability to walk away from the loans non-recourse. I know purchase loans are non-recourse but the mod might be viewed as a re-fi.[/quote]
I thought all loan mods converted the loan to recourse. If this is true, then CV’s first loan is now recourse. The 2nd, since it hasn’t been modified yet, isn’t recourse, yet, since it was a purchase loan.
