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ResAlien · 02-12-2009, 11:26 PM

You owe what you owe brother. An astounding amount of people in the states are in the same position as you. Are you saying you cannot pay anymore? There should be many homeowner assistance companies, especially non-profit ones, there to help you. If your credit isn't jacked, try to get some kind of refi action going. A possible forbearance plan or other loss mit strategy could help, contact your servicer. A short sale or a deed in lieu may help you out if you're willing to lose the home and don't want to have a FC on your record. It really all depends on your income and DTI. I'd go more in depth, this is the field I work in, but I'm not sure about the differences between Canadian and US mortgages. PM if you want, if not I'll wait to see some more info about your situation.

Edit: I cannot stress enough CONTACT YOUR SERVICER. I work in Master Servicing, and know that every servicer in the states has specific departments set up to help people in what seems to be your situation. It's tough to say what your options could be, like I said income, DTI and credit score play a huuuge part in what options are available to you.

If you're in the states and haven't gone to your servicer yet, this isn't a bad place to start:

http://www.hopenow.com/

02-12-2009, 11:26 PM	#4
ResAlien Lifetime In Suspension Join Date: Dec 2007 Exp:	You owe what you owe brother. An astounding amount of people in the states are in the same position as you. Are you saying you cannot pay anymore? There should be many homeowner assistance companies, especially non-profit ones, there to help you. If your credit isn't jacked, try to get some kind of refi action going. A possible forbearance plan or other loss mit strategy could help, contact your servicer. A short sale or a deed in lieu may help you out if you're willing to lose the home and don't want to have a FC on your record. It really all depends on your income and DTI. I'd go more in depth, this is the field I work in, but I'm not sure about the differences between Canadian and US mortgages. PM if you want, if not I'll wait to see some more info about your situation. Edit: I cannot stress enough CONTACT YOUR SERVICER. I work in Master Servicing, and know that every servicer in the states has specific departments set up to help people in what seems to be your situation. It's tough to say what your options could be, like I said income, DTI and credit score play a huuuge part in what options are available to you. If you're in the states and haven't gone to your servicer yet, this isn't a bad place to start: http://www.hopenow.com/ Last edited by ResAlien; 02-12-2009 at 11:39 PM.