Forum Replies Created
-
AuthorPosts
-
October 22, 2007 at 12:55 PM in reply to: Northern CA failure, forclosure help, tax questions >> #90633October 22, 2007 at 12:55 PM in reply to: Northern CA failure, forclosure help, tax questions >> #90649
BayNegative
ParticipantRough numbers:
Home 1:
1st 300k (5/1)
2nd 105k (HELOC)Can possibly sell for 340-350
Home 2:
1st 300k (Neg AM)
2nd 25k (HELOC same lender as 1st)Can possible sell for 270-280
October 22, 2007 at 12:55 PM in reply to: Northern CA failure, forclosure help, tax questions >> #90651ParticipantRough numbers:
Home 1:
1st 300k (5/1)
2nd 105k (HELOC)Can possibly sell for 340-350
Home 2:
1st 300k (Neg AM)
2nd 25k (HELOC same lender as 1st)Can possible sell for 270-280
October 22, 2007 at 11:07 AM in reply to: Northern CA failure, forclosure help, tax questions >> #90555Participantucodegen…
Both are facing foreclosure. Here is more detail.
Home number 1: 20% down of my own money..not a refi from a previous property. The 1st 5/1 ARM is a seperate lender from the HELOC. Again, both loans are towards purchase of this home.
The HELOC was replaced with another HELOC but minus so and so dollars to acquire home no.2, ….no money was borrowed from the 1st existing HELOC.
As for home no. 2, yes both the neg AM and HELOC are of original purchase loan and both w/ the same lender.
October 22, 2007 at 11:07 AM in reply to: Northern CA failure, forclosure help, tax questions >> #90566Participantucodegen…
Both are facing foreclosure. Here is more detail.
Home number 1: 20% down of my own money..not a refi from a previous property. The 1st 5/1 ARM is a seperate lender from the HELOC. Again, both loans are towards purchase of this home.
The HELOC was replaced with another HELOC but minus so and so dollars to acquire home no.2, ….no money was borrowed from the 1st existing HELOC.
As for home no. 2, yes both the neg AM and HELOC are of original purchase loan and both w/ the same lender.
October 21, 2007 at 11:05 PM in reply to: Northern CA failure, forclosure help, tax questions >> #90470ParticipantSD Realtor,
Thank you for the advice. I will talk to my lender when/if the time comes near. As of now, I am holding on and am attempting other options.
October 21, 2007 at 11:05 PM in reply to: Northern CA failure, forclosure help, tax questions >> #90479ParticipantSD Realtor,
Thank you for the advice. I will talk to my lender when/if the time comes near. As of now, I am holding on and am attempting other options.
October 21, 2007 at 10:58 PM in reply to: Northern CA failure, forclosure help, tax questions >> #90468ParticipantDaniel, I realize so. As you can tell I am somewhat on my last straw. If members would like to so called eat me alive, so be it. I am at a point where there can be no more damaging news than what already exists. I am just desperate for better answers. To those who can help or possibly point me in the right direction…thank you in advance.
October 21, 2007 at 10:58 PM in reply to: Northern CA failure, forclosure help, tax questions >> #90477ParticipantDaniel, I realize so. As you can tell I am somewhat on my last straw. If members would like to so called eat me alive, so be it. I am at a point where there can be no more damaging news than what already exists. I am just desperate for better answers. To those who can help or possibly point me in the right direction…thank you in advance.
October 21, 2007 at 10:55 PM in reply to: Northern CA failure, forclosure help, tax questions >> #90464ParticipantI just wanted to add an additional question regarding forclosure. Does anyone have a more accurate time frame of how long this can taint ones credit? I’ve heard variations of 5-10 years but don’t know what determines so.
This has been a very frustrating time. I have managed an average credit score of 795-811 through out life and something like this comes along.
October 21, 2007 at 10:55 PM in reply to: Northern CA failure, forclosure help, tax questions >> #90473ParticipantI just wanted to add an additional question regarding forclosure. Does anyone have a more accurate time frame of how long this can taint ones credit? I’ve heard variations of 5-10 years but don’t know what determines so.
This has been a very frustrating time. I have managed an average credit score of 795-811 through out life and something like this comes along.
-
AuthorPosts