Anyone successfully using the amortization of principal borrowers underwater?

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Here is a house with a jumbo loan Situation.Das was purchased several years ago, with a second mortgage as well, 90% of the total value of the house then. Now the value of the home 20% less than it was two years ago. In fact, the loan to value 112%. There is also a significant limitation of Einkommen.War anyone managed to convince their lenders take impairment substantial? What part of the second mortgage is important in writing? What is the interest rate for the remainder of the second mortgage? I do not ask you to judge wants to know the rules of a hypothetical case

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  1. Reply
    Deliah
    February 20, 2011 at 9:17 pm

    And who writes down my principal when I am a person who pays their bills, took the idea of getting a mortgage very serious when considering what I could afford, and still pay that on time every month when my value has fallen as well?

    Then the other reason O is so flawed in his thinking, what happens if you get YOUR principal “written down” and then our housing market recovers, your house is again worth your purchase price but this “write down” now gives you lots more equity? Gonna pay back the “write down”.

    Jumbo means you have a huge debt so how much do you wnat “written down”?

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