Should I stay or should I go Part II?

[seattle-relo]

If the second was a purchase money loan there is a good chance that it’s also nonrecourse. Again, as suggested to the other “should I stay or should I go” poster, talk to an attorney and accountant that have expertise in this area. I believe there is some debate about the term HELOC for purchase money loans and whether they are recourse or not, and attorney can help you figure it out.

Good luck

[Anonymous]

Wrong place for advice this forum is!

Get as much as an EXACT figure of your mortgage payment for the place including tax benefits (speak to a CPA) and compare it against what you get for renting it out. Agreed, there will a “loss” at the moment. Figure out how much is the annual loss.. 5K..10K ? Every investment has its set of risks involved and this is a time when RE investment is not profitable for most …and so are various other investment avenues not 100% profitable either.

Think ..are you brave enough with the loss amount right now ? Think long term here … Its all up to your mental state and mettle. Don’t just listen to just 1 section of crowd with purely sky is falling negative sentiment and make up your mind. Remember …everyone lives a “influenced” life …be aware of who or what s influencing you. How successful are the people who are advising you … etc etc blah blah 🙂

PS: Ok fellas, time for you guys to cut me into pieces! 🙂

[Anonymous]

Wrong place for advice this forum is!

Get as much as an EXACT figure of your mortgage payment for the place including tax benefits (speak to a CPA) and compare it against what you get for renting it out. Agreed, there will a “loss” at the moment. Figure out how much is the annual loss.. 5K..10K ? Every investment has its set of risks involved and this is a time when RE investment is not profitable for most …and so are various other investment avenues not 100% profitable either.

Think ..are you brave enough with the loss amount right now ? Think long term here … Its all up to your mental state and mettle. Don’t just listen to just 1 section of crowd with purely sky is falling negative sentiment and make up your mind. Remember …everyone lives a “influenced” life …be aware of who or what s influencing you. How successful are the people who are advising you … etc etc blah blah 🙂

PS: Ok fellas, time for you guys to cut me into pieces! 🙂

[Anonymous]

Wrong place for advice this forum is!

Get as much as an EXACT figure of your mortgage payment for the place including tax benefits (speak to a CPA) and compare it against what you get for renting it out. Agreed, there will a “loss” at the moment. Figure out how much is the annual loss.. 5K..10K ? Every investment has its set of risks involved and this is a time when RE investment is not profitable for most …and so are various other investment avenues not 100% profitable either.

Think ..are you brave enough with the loss amount right now ? Think long term here … Its all up to your mental state and mettle. Don’t just listen to just 1 section of crowd with purely sky is falling negative sentiment and make up your mind. Remember …everyone lives a “influenced” life …be aware of who or what s influencing you. How successful are the people who are advising you … etc etc blah blah 🙂

PS: Ok fellas, time for you guys to cut me into pieces! 🙂

[Anonymous]

Wrong place for advice this forum is!

Get as much as an EXACT figure of your mortgage payment for the place including tax benefits (speak to a CPA) and compare it against what you get for renting it out. Agreed, there will a “loss” at the moment. Figure out how much is the annual loss.. 5K..10K ? Every investment has its set of risks involved and this is a time when RE investment is not profitable for most …and so are various other investment avenues not 100% profitable either.

Think ..are you brave enough with the loss amount right now ? Think long term here … Its all up to your mental state and mettle. Don’t just listen to just 1 section of crowd with purely sky is falling negative sentiment and make up your mind. Remember …everyone lives a “influenced” life …be aware of who or what s influencing you. How successful are the people who are advising you … etc etc blah blah 🙂

PS: Ok fellas, time for you guys to cut me into pieces! 🙂

[Anonymous]

Wrong place for advice this forum is!

Get as much as an EXACT figure of your mortgage payment for the place including tax benefits (speak to a CPA) and compare it against what you get for renting it out. Agreed, there will a “loss” at the moment. Figure out how much is the annual loss.. 5K..10K ? Every investment has its set of risks involved and this is a time when RE investment is not profitable for most …and so are various other investment avenues not 100% profitable either.

Think ..are you brave enough with the loss amount right now ? Think long term here … Its all up to your mental state and mettle. Don’t just listen to just 1 section of crowd with purely sky is falling negative sentiment and make up your mind. Remember …everyone lives a “influenced” life …be aware of who or what s influencing you. How successful are the people who are advising you … etc etc blah blah 🙂

PS: Ok fellas, time for you guys to cut me into pieces! 🙂

[Anonymous]

I looked at this lawyer’s blog and it seems that both your loans, if never refinanced, seem non-recourse and therefore all the lender can do is take back your home if a foreclosure occurs.

http://activerain.com/blogsview/195649/California-Real-Estate-Law#comments

[Anonymous]

I looked at this lawyer’s blog and it seems that both your loans, if never refinanced, seem non-recourse and therefore all the lender can do is take back your home if a foreclosure occurs.

http://activerain.com/blogsview/195649/California-Real-Estate-Law#comments

[Anonymous]

I looked at this lawyer’s blog and it seems that both your loans, if never refinanced, seem non-recourse and therefore all the lender can do is take back your home if a foreclosure occurs.

http://activerain.com/blogsview/195649/California-Real-Estate-Law#comments

[Anonymous]

I looked at this lawyer’s blog and it seems that both your loans, if never refinanced, seem non-recourse and therefore all the lender can do is take back your home if a foreclosure occurs.

http://activerain.com/blogsview/195649/California-Real-Estate-Law#comments

[Anonymous]

I looked at this lawyer’s blog and it seems that both your loans, if never refinanced, seem non-recourse and therefore all the lender can do is take back your home if a foreclosure occurs.

http://activerain.com/blogsview/195649/California-Real-Estate-Law#comments

[sdrealtor]

I would try to negotiate with Countrywide first to accept a short pay on the 2nd trust deed. They should know by this time that they will get zero in a foreclosure. You might get them to release their lien for a grand or two. Then you will be left with a 1st that is a borderline short sale and a lender that is apt to be more willing to work with you once the 2nd trust deed is gone. For a little money you might well come out of this relatively unscathed.

Try this before you listen to the uninformed chimps on this board.

[sdrealtor]

I would try to negotiate with Countrywide first to accept a short pay on the 2nd trust deed. They should know by this time that they will get zero in a foreclosure. You might get them to release their lien for a grand or two. Then you will be left with a 1st that is a borderline short sale and a lender that is apt to be more willing to work with you once the 2nd trust deed is gone. For a little money you might well come out of this relatively unscathed.

Try this before you listen to the uninformed chimps on this board.

[sdrealtor]

I would try to negotiate with Countrywide first to accept a short pay on the 2nd trust deed. They should know by this time that they will get zero in a foreclosure. You might get them to release their lien for a grand or two. Then you will be left with a 1st that is a borderline short sale and a lender that is apt to be more willing to work with you once the 2nd trust deed is gone. For a little money you might well come out of this relatively unscathed.

Try this before you listen to the uninformed chimps on this board.

[sdrealtor]

I would try to negotiate with Countrywide first to accept a short pay on the 2nd trust deed. They should know by this time that they will get zero in a foreclosure. You might get them to release their lien for a grand or two. Then you will be left with a 1st that is a borderline short sale and a lender that is apt to be more willing to work with you once the 2nd trust deed is gone. For a little money you might well come out of this relatively unscathed.

Try this before you listen to the uninformed chimps on this board.

[Author]

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