We owe 5,000 on our house and it’s now worth about 0,000. We have an ARM that is going to reset in Jan 09. We definitely can’t afford the ,000 jump in payment. Called the mortgage company (Ocwen) and they said we do not qualify for the government’s freeze on interest rates program because our ARM was for 3 years instead of 2, but they said call back closer to the time the loan is set to reset and they’ll work with me. Somehow I doubt it and I don’t want to pay my ,100 property tax bill on the house if I’m just going to lose it in the end. Plus, I’m thinking about all the money we could save every month if we let it go and just rented a house. We’d save about ,000 a month on rent and ,000 a year on property taxes. Why hold on to a house that costs too much and has no equity? Not to mention it’s an interest only loan, so paying it off will NEVER happen. Please give me your advise. Is foreclosure really so bad? My credit score is already low (610)
Posts Tagged ‘zero interest’
Should I try to hold on to my home or let it go into forclosure?
Saturday, November 14th, 2009Related ‘zero interest’ sites :
| Zero interest rate policy - Wikipedia, the free encyclopedia The zero interest rate policy (ZIRP) is a concept in macroeconomics where economies ... Under ZIRP, the central bank maintains a 0% nominal interest rate. ... en.wikipedia.org/wiki/ | |
| Zero Down Zero Interest Buy no interest land at zero down zero interest. Affordable land and a master planned community with a money back guarantee... www.zerodownzerointerest.com | |
| No Interest Credit Cards | 0% APR Credit Card Offers All of the top low APR and no interest credit cards from CreditCardAssist.com. Apply online for introductory zero interest credit cards and 0 APR credit card offers. www.creditcardassist.com/ | |
| Sveriges Riksbank/Riksbanken - Svensson: Monetary policy with ... Monetary policy with a zero interest rate The Riksbank conducts a policy of flexible inflation targeting, which aims to stabilise inflation www.riksbank.com/templates/ | |
| Zero Interest Financing and Energy Independence The interest-free loans need not be borrowed from financial institutions, ... Zero interest financing, or interest-free debt, is an economic paradigm—a ... www.americanenergyindependence.com/ | |
| Consumers - Zero Interest Loan - California Dept. of Justice ... Zero INTEREST LOANS. A zero-percent loan could be a great deal as long as you are careful to read the fine print and promptly pay off the loan. ... ag.ca.gov/consumers/general/ | |
| Land 4 Zero Down Zero Interest We all know that purchasing land is a great investment buy who can afford it? At sunsites land rush we offer affordable land with terms anyone can afford land4zerodownzerointerest.com | |
| Near-Zero Interest Rates OptionsXpress 4Q Net Falls On Low Rates, Lower Trading Volume, MARKET SNAPSHOT: U.S. Stocks Lower As Fed Keeps Key Rate Unchanged, A Full Recovery Is Not in Doubt, ... www.morningstar.com/1/6/ | |
| GM extends zero-interest offer 3 weeks - Oct. 17, 2001 General Motors Corp. said Wednesday it is extending its popular but expensive zero-interest financing offer for nearly three weeks past the previous end of October ... money.cnn.com/2001/10/17/ | |
| Zero Interest Rates Fed Sticks with Zero Interest Rate Policy, OptionsXpress 4Q Net Falls On Low Rates, Lower Trading Volume, MARKET SNAPSHOT: U.S. Stocks Lower As Fed ... www.morningstar.com/1/6/ | |