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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] California Home Situation - please help Posted by NK on April 21, 2009 at 1:22 PM Situation Purchased home in 2005 for $485,000, we currently owe approximately $480, on an 80/20 REFI. House is now worth in the low to mid $300,000s. We can no longer afford our payments, and have decided we would rather just lose the house. We missed our first payment this month and have been getting phone calls from the second lender 1-2 times a day (i have never answered). The first lender has called once or twice only. I would like to know the best course of action to get out of my home without owing any money, I dont care about my credit really, I just dont want to have to be responsible for the bank's loss. Also, what is my best course of action in terms of their calls, should I call them back? Should I ignore them? For how long? I am not going to require them to KICK me out of the house, I have enough income to live elsewhere, I just cant afford this house anymore. Should I call them and offer dead in lieu? or short sale? or what? thanks-NK Follow Ups: Re: California Home Situation - please help JK (the other JK) 1:32 PM, 04/21/09 (15) short sale stats Kristine-CA 5:55 PM, 04/21/09 (6) Re: short sale stats JK (the other JK) 6:12 PM, 04/21/09 (4) Re: short sale stats Kristine-CA 6:27 PM, 04/21/09 (3) Re: short sale stats JK (the other JK) 9:12 PM, 04/21/09 (2) Re: short sale stats CC in OC 9:09 AM, 04/22/09 (0) Re: short sale stats Dan Williams 9:06 AM, 04/22/09 (0) Re: short sale stats Kristine-CA 5:59 PM, 04/21/09 (0) Re: California Home Situation - please help NK 1:40 PM, 04/21/09 (7) How to stop the bank from calling CC in OC 9:15 AM, 04/22/09 (0) Re: California Home Situation - please help JK (the other JK) 1:47 PM, 04/21/09 (5) Re: California Home Situation - please help NK 1:59 PM, 04/21/09 (4) Re: California Home Situation - please help JK (the other JK) 2:14 PM, 04/21/09 (3) Select an effective negotiator... CC in OC 9:19 AM, 04/22/09 (2) Re: Select an effective negotiator... JK (the other JK) 10:01 AM, 04/22/09 (1) If JK says it... CC in OC 10:13 AM, 04/22/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Situation Purchased home in 2005 for $485,000, we currently owe approximately : $480, on an 80/20 REFI. House is now worth in the low to mid $300,000s. We can : no longer afford our payments, and have decided we would rather just lose the : house. : We missed our first payment this month and have been getting phone calls from the : second lender 1-2 times a day (i have never answered). The first lender has called : once or twice only. : I would like to know the best course of action to get out of my home without owing : any money, I dont care about my credit really, I just dont want to have to be : responsible for the bank's loss. : Also, what is my best course of action in terms of their calls, should I call them : back? Should I ignore them? For how long? : I am not going to require them to KICK me out of the house, I have enough income : to live elsewhere, I just cant afford this house anymore. Should I call them and offer : dead in lieu? or short sale? or what? : thanks-NK [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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