Tony wrote: > well, ive been OTP with Countrwide a lot. > > we started this process a few months ago. and they've told me this. > > "we will not foreclose on you" instead they will do the following in order > and it was good that i started the dialog a while ago... > > 1. list it, try to sell it (i started this back in Nov.) > 2. short sell (basically agree on a lesser price and if i can find a buyer > who will buy it for that they will take that and say goodbye) and thanks > to the one thing Shrub has done, his new fix for the mrtg crisis one of the > stipulations said that the difference is no longer (for like 3 more years) > shown as income... as it used to be that the diff in a short sell and actual > loan value was shown as income :( bad bad bad. > 3. if no sell, we will do a deed in lieu of foreclosure (kinda like a > foreclosure > but not, really, not as bad on credit as fc) > > but they said i have months before that even starts, and they havent even > started that. in fact im still in their "Workout Process" which bought me even > more time. fc takes a LOAD of money, and time, and they'd rather just > transfer > the deed than do a FC. > > tw > > On 1/28/08, Crow T. Robot <[EMAIL PROTECTED]> wrote: > >> So...are you letting the house just lapse into bankruptcy? Wondering how >> you are able to not pay off a mortgage... >> >> On Jan 28, 2008 10:30 AM, Tony <[EMAIL PROTECTED]> wrote: >> >> >>> NO DOUBT. >>> >>> we are saving 1500 each month by not paying that damn mortgage >>> cutting our losses, renting and doing our thing starting over... >>> >>> and no bad juju in the house!!! >>> >>> :) big ups >>> >>> On Jan 28, 2008 11:23 AM, J.J. Merrick <[EMAIL PROTECTED]> wrote: >>> >>>> yeah you should never become a landlord by default. >>>> >>>> Good call on the renting. No shame in cutting your losses and starting >>>> over. Next time get a 15 year FIXED! :-) >>>> >>>> -J.J. >>>> >>>> On 1/28/08, Tony <[EMAIL PROTECTED]> wrote: >>>> >>>> >>>>> at $2500 a month, i couldnt begin to think of renting it. >>>>> it would get trashed in months, id have to take care of it >>>>> and, well, you know people. they are dirty, they smell >>>>> they have bad habits, they fnck sh!it up, and im not down with it. >>>>> >>>>> its just not a poss. the house is nearly brand new... here is the mls >>>>> listing for my house... >>>>> >>>>> http://www.dpol.com/public/Report_custAllphotos.asp?ml=438889 >>>>> >>>>> and the lady who owns my New/old house :) is the owner of a local >>>>> huge amusement park in Ocean City. its just a house she doesnt >>>>> want to get rid of but rents it out to YUPPIES ... which fits us >>>>> >>> perfectly. >>> >>>>> not to mention its all hardwood therefore we cannot possibly eff it up >>>>> with dogs and stuff... just perfect. >>>>> >>>>> oHHHH and we have a front porch :) i cant wait for summertime and >>>>> storms and late evening breezes... they are soo awesome around here. >>>>> >>>>> and we have a 2nd floor sunroom :) sooo cool, and perfect for a >>>>> >>> hammock! >>> >>>>> later >>>>> >>>>> On Jan 28, 2008 10:29 AM, Cameron Childress <[EMAIL PROTECTED]> >>>>> >>> wrote: >>> >>>>>> Tony wrote: >>>>>> >>>>>>> its totally a victim... they SHOULDA NEVER given me that loan for >>>>>>> >>> that place. >>> >>>>>>> never. >>>>>>> >>>>>> Interesting that you are renting a house now. Alot of people who >>>>>> >>> are >>> >>>>>> upside-down in their home loans are attempting to rent them out to >>>>>> people to make the payments and hopefully wait out the market dip. >>>>>> >>> It >>> >>>>>> would be ironic if you were renting from someone in that situation. >>>>>> >>>>>> -Cameron >>>>>> >>>>>> >>>>>> >>>>> >>>> >>> >> > >
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