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Entries Tagged as 'underwater'

Obama Proposes Mandatory Refinancing for Underwater Home Loans

February 1st, 2012 · No Comments · Mortgages

Outlined in this new program is a requirement that home loans must be refinanced if the homeowners owe more than 140 percent of the value of their home.

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My Home is Falling Apart and Underwater – Repair or Walk?

November 30th, 2010 · 4 Comments · Mortgages

Q. I’m stuck in a home that is literally falling apart. It’s not worth what I owe, not even close, and it’s not worth putting money into. I feel trapped. I’ve got good credit and have debated about buying a new home and letting this one go, but I’m afraid of what will happen, i.e. [...]

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I’m $100K Underwater on My House – Should I Walk?

May 11th, 2010 · 6 Comments · Mortgages, Real Estate

Just over the weekend, I had a conversation with a friend of mine who was very underwater on her home and was seriously considering walking away from her mortgage. She read that a law professor here in Arizona said that people were too worried about morality of paying their mortgage for no good reason. (Crazy [...]

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Foreclosures Suspended by Citibank until Jan 2010

December 21st, 2009 · No Comments · Mortgages

Merry Christmas? According to the Boston Globe, Citigroup will suspend foreclosures and evictions for 30 days in a temporary break for about 4,000 borrowers during the holiday season. The suspension will run through Jan. 17. You better read the fine print, though. The suspension only applies to borrowers whose loans are owned by Citi. Borrowers [...]

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