Should I stay or should I go?

[ltokuda]

DJNinSD, one more thing. I would advise against trying to work out a loan adjustment with the lender. The reason is that you seem to be in way over your head. It doesn’t sound like you have the background knowledge to be able to analyze the economics of owning a home. That’s how you got into this terrible situation in the first place. So I’m afraid that if you start negotiating with the lender, you might agree to something that doesn’t make any financial sense.

My advice is that after you walk away from your home, you continue to read piggington’s and learn more about real estate. Continue to educate yourself. One day, there might be good opportunities for you to become a homeowner again. When that day comes, you’ll have the knowledge necessary to see those good values and make your move. Until then, save up and take care of your family. I wish you the very best.

[SD Realtor]

Itokuda my advice is certainly not to work out a deal to refinance your home or workout a deal with the lender. I would agree that the original poster did not have a well thought out strategy when purchasing the home and like most everyone else placed all the eggs in the my house will appreciate bucket because it HAS to!

My advice is to talk to the lender to learn about the short sale requirements and the consequences or shall I say differentiations of consequences in the reporting to the credit agencies by the lender in a short sale verses a foreclosure or deed in lieu of a foreclosure. You can talk to every attorney, cpa, or other agency in the world and you can read piggington and every other blog 24 hours a day. In the end the lender is who makes the report to the agency. Hiding from them and not finding out as much information as you can is not the right way to deal with this problem.

More often then not, even they will not know. Make no mistake this person will deal with many different groups at the lender as she goes through this process.

Getting used to it is the first thing to do.

SD Realtor

[SD Realtor]

Itokuda my advice is certainly not to work out a deal to refinance your home or workout a deal with the lender. I would agree that the original poster did not have a well thought out strategy when purchasing the home and like most everyone else placed all the eggs in the my house will appreciate bucket because it HAS to!

My advice is to talk to the lender to learn about the short sale requirements and the consequences or shall I say differentiations of consequences in the reporting to the credit agencies by the lender in a short sale verses a foreclosure or deed in lieu of a foreclosure. You can talk to every attorney, cpa, or other agency in the world and you can read piggington and every other blog 24 hours a day. In the end the lender is who makes the report to the agency. Hiding from them and not finding out as much information as you can is not the right way to deal with this problem.

More often then not, even they will not know. Make no mistake this person will deal with many different groups at the lender as she goes through this process.

Getting used to it is the first thing to do.

SD Realtor

[SD Realtor]

Itokuda my advice is certainly not to work out a deal to refinance your home or workout a deal with the lender. I would agree that the original poster did not have a well thought out strategy when purchasing the home and like most everyone else placed all the eggs in the my house will appreciate bucket because it HAS to!

My advice is to talk to the lender to learn about the short sale requirements and the consequences or shall I say differentiations of consequences in the reporting to the credit agencies by the lender in a short sale verses a foreclosure or deed in lieu of a foreclosure. You can talk to every attorney, cpa, or other agency in the world and you can read piggington and every other blog 24 hours a day. In the end the lender is who makes the report to the agency. Hiding from them and not finding out as much information as you can is not the right way to deal with this problem.

More often then not, even they will not know. Make no mistake this person will deal with many different groups at the lender as she goes through this process.

Getting used to it is the first thing to do.

SD Realtor

[SD Realtor]

Itokuda my advice is certainly not to work out a deal to refinance your home or workout a deal with the lender. I would agree that the original poster did not have a well thought out strategy when purchasing the home and like most everyone else placed all the eggs in the my house will appreciate bucket because it HAS to!

My advice is to talk to the lender to learn about the short sale requirements and the consequences or shall I say differentiations of consequences in the reporting to the credit agencies by the lender in a short sale verses a foreclosure or deed in lieu of a foreclosure. You can talk to every attorney, cpa, or other agency in the world and you can read piggington and every other blog 24 hours a day. In the end the lender is who makes the report to the agency. Hiding from them and not finding out as much information as you can is not the right way to deal with this problem.

More often then not, even they will not know. Make no mistake this person will deal with many different groups at the lender as she goes through this process.

Getting used to it is the first thing to do.

SD Realtor

[SD Realtor]

Itokuda my advice is certainly not to work out a deal to refinance your home or workout a deal with the lender. I would agree that the original poster did not have a well thought out strategy when purchasing the home and like most everyone else placed all the eggs in the my house will appreciate bucket because it HAS to!

My advice is to talk to the lender to learn about the short sale requirements and the consequences or shall I say differentiations of consequences in the reporting to the credit agencies by the lender in a short sale verses a foreclosure or deed in lieu of a foreclosure. You can talk to every attorney, cpa, or other agency in the world and you can read piggington and every other blog 24 hours a day. In the end the lender is who makes the report to the agency. Hiding from them and not finding out as much information as you can is not the right way to deal with this problem.

More often then not, even they will not know. Make no mistake this person will deal with many different groups at the lender as she goes through this process.

Getting used to it is the first thing to do.

SD Realtor

[Navydoc]

I’m making an assumption here, but it doesn’t sound like you’re in a position financially to be able to sell the home if you could. Rough estimate puts your bring to the settlement table money to >$30,000. Can you afford this? If not, definitely walk away. Having been in that position myself in the early 90’s I know what it feels like, but you’ll be on the road to financial recovery a lot sooner than if you try to hang on.

Good luck to you, these are tough decisions to make, but it gets a lot easier after you make them.

[Navydoc]

I’m making an assumption here, but it doesn’t sound like you’re in a position financially to be able to sell the home if you could. Rough estimate puts your bring to the settlement table money to >$30,000. Can you afford this? If not, definitely walk away. Having been in that position myself in the early 90’s I know what it feels like, but you’ll be on the road to financial recovery a lot sooner than if you try to hang on.

Good luck to you, these are tough decisions to make, but it gets a lot easier after you make them.

[Navydoc]

I’m making an assumption here, but it doesn’t sound like you’re in a position financially to be able to sell the home if you could. Rough estimate puts your bring to the settlement table money to >$30,000. Can you afford this? If not, definitely walk away. Having been in that position myself in the early 90’s I know what it feels like, but you’ll be on the road to financial recovery a lot sooner than if you try to hang on.

Good luck to you, these are tough decisions to make, but it gets a lot easier after you make them.

[Navydoc]

I’m making an assumption here, but it doesn’t sound like you’re in a position financially to be able to sell the home if you could. Rough estimate puts your bring to the settlement table money to >$30,000. Can you afford this? If not, definitely walk away. Having been in that position myself in the early 90’s I know what it feels like, but you’ll be on the road to financial recovery a lot sooner than if you try to hang on.

Good luck to you, these are tough decisions to make, but it gets a lot easier after you make them.

[Navydoc]

I’m making an assumption here, but it doesn’t sound like you’re in a position financially to be able to sell the home if you could. Rough estimate puts your bring to the settlement table money to >$30,000. Can you afford this? If not, definitely walk away. Having been in that position myself in the early 90’s I know what it feels like, but you’ll be on the road to financial recovery a lot sooner than if you try to hang on.

Good luck to you, these are tough decisions to make, but it gets a lot easier after you make them.

[DJNinSD]

That is correct Navydoc, I do not have $30k available to put into this to allow me to sell. I’ve heard a lot of good information here, primarily that being I need to talk to my lender. I’ve put that on my to-do list for the first thing next week.

[DJNinSD]

That is correct Navydoc, I do not have $30k available to put into this to allow me to sell. I’ve heard a lot of good information here, primarily that being I need to talk to my lender. I’ve put that on my to-do list for the first thing next week.

[DJNinSD]

That is correct Navydoc, I do not have $30k available to put into this to allow me to sell. I’ve heard a lot of good information here, primarily that being I need to talk to my lender. I’ve put that on my to-do list for the first thing next week.

[DJNinSD]

That is correct Navydoc, I do not have $30k available to put into this to allow me to sell. I’ve heard a lot of good information here, primarily that being I need to talk to my lender. I’ve put that on my to-do list for the first thing next week.

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