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Monthly Archives: July 2006
Does This Bailout Mean That the Government Will Pay Off Our Mortgages?
It would be awesome if so!
What Happens if I Default on a 1st Mortgage but Not on a Second?
Here’s the tale in a nutshell. I bought a condo in 2005 on an ARM. Just out of a divorce, I chose to consolidate some debt with a home equity line of credit called a 125% loan. Terrible go, since I didn’t first refi the ARM. Now, the housing market has flaccid, my property value is down, I have unenthusiastic equity, and I can’t refi. The ARM has gone up and is due to go up again in a couple months. My payment has doubled and I can’t meet the deprivation of it. What will happen if I default on the 1st mortgae but remain current on the following? In other words, what happens to the following mortgage, and how force I be liable even if the payments are current on that loan?
Help People Save Home Program
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Should I Pay My Mortgage Next Month or Just Wait for the Mortgage Bailout?
Come on – I could be spending my mortgage money on other equipment.
Why should I be reliable and pay my bills – if I don’t I will be rewarded with a bailout of my mortgage.
So, why so I pay my mortgage – the government suddenly seems to have an endless supply of money for people that can’t meet the deprivation of their mortgages and I’ve just chose that I can’t meet the deprivation of my mortgage. Please help me Obama!