|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|
I just finished bankruptcy, my house was not included in it. I'am still finding it difficult ...
to keep up with the expense of a house. My first mortgage I owe $198,000 my 2nd mortgage Is a interest only and I owe $60,000, from comparable sales around my neighborhood my house might be worth 130,000. Can I still short sale even though I'm not upside down on my first only my second makes me upside down? Thanks
The way I read your narrative, your house is worth 130,000 and your first mortgage is 198,000 - you are upside down without the second mortgage. Meet with your first mortgage lender and discuss choices. They have serveral alternatives under government incentive programs. Your problem is with the second mortgage of 60,000. Even if the First Mortgage lender would agree to a short sale, the second mortgage lender has no incentive for any agreement because with your facts, there is no way there would be any money for them.
Of course, from the sounds of it, you are probably better off to let the home go. Otherwise you are making payments on a home that will probably always have negative equity.
I made a mistake on my figures. I owe 195,000 on the first and 60,000 on an interest only 2nd. The houses in my area that are comparable are going for about 230,000. Can I still short sale even though I'm only upside down on my second not the first? Sorry I made a numerical error when giving my figures. Thanks for the prompt response.
I believe your mortgage holder has to approve a "short" sale. Go talk to them, explain your situation, tell them you need help. And don't wait! And do not run away from your problem - they wont shoot you and they do not want your property. The fear alone will destroy you, so face it now. They can help you, keep after them until you have a solution and if I were you I'd do it now - not some time tomorrow.
When applying for a mortgage after bankruptcy mortgage lenders always look at at what the disposable income of an applicant. If they see that the applicant is spending money servicing unsecured debt then the chances of obtaining a mortgage after bankruptcy will greatly diminish.
Source: www.bankruptcy-insolvency.co.uk/bankrup … ruptcy.php
by disneygirl1237 years ago
what do i do with my home if it included in the chapter 7 bankruptyIf my home is included in chapter 7 bankruptcy do i just pack up and move???? if i have stayed there for a year making payments and now i want to...
by nelly15 years ago
Can I get a mortage if I had a bankruptcy
Copyright © 2018 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.