How can one refinance a house with negative equity? - refinance with negative equity
My ex-wife lives in the house that we had when we married. Since the divorce, the mortgage was refinanced due to financial difficulties. At the moment I think it is more than the house is worth on the open market. She was always in financial difficulties with a large amount of debts and mortgages. You have the choice to try to rid themselves of this House to move a little more favorable one? If the house is sold at a loss, he is obliged to refund the difference to the bank or mortgage holder immediately? What options exist to get rid of that debt and bankruptcy law?
Monday, January 4, 2010
Refinance With Negative Equity How Can One Refinance A House With Negative Equity?
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2 comments:
Talk to your mortgage lender, a "short sale". This type of operation is used when paying the house for less than the mortgage. Yes, that's the difference refunded sold. A payment schedule drawn up by the bank. This is a better choice than bankruptcy - but remain in force, your credit score (or someone else score in the loan). However, most people could with a short sale is still in a position to buy another house (during the bankruptcy proclude we do)
I have a lot of properties and deal with many banks. And not to sign the bank loan, the loan is not repaid in full. Your only option is to continue to make payments or file for bankruptcy, which can not, or relieve it of liability.
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