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We have a condo and our mortgage is going to adjustable rate on November 1st. We tried to refinance but our credit isn’t that great besides most places arent refinancing people right now. We looked into the Obama mortgage plan thing but we dont qualify since we haven’t missed any payments. We tried selling so we can move on base since we are in the navy but we are unable to sell since we owe more than what the current market value is (not much more). Our loan isn’t through fanny or freddy. If the payment end up being more than what we are paying now than we cant afford them anymore and we would loose the condo. But we cant loose the condo due to my husband having top secret clearance and he cant foreclose on a home or he will loose his job in the navy. Any suggestions or idea on how to sell our condo quickly???

5 Thoughts on What should we do with our mortgage problem?
  1. Reply
    Bob D
    February 14, 2014 at 3:27 pm

    top secret or not. they will forclose. it dosent matter.sell it auction.

  2. Reply
    February 14, 2014 at 3:29 pm

    You can sell your condo. If you take a loss, you will have to pay the difference to your current mortgage company. You mortgage company cannot force you to stay in the house if you wish to sell it.

  3. Reply
    February 14, 2014 at 4:12 pm

    sell it for a slight loss …say 20 k
    then finance the the 20 k and pay as slow as possible…send them predatory lenders a penny a day

  4. Reply
    February 14, 2014 at 4:35 pm

    You need to contact you lender and request a loan modification.

  5. Reply
    February 14, 2014 at 4:53 pm

    Try refi through the VA, their loan program is 100% and at a good rate, sorry but selling in this market is not going to happen quickly, ot most likely for what you owe on it.

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