Archive for the ‘Upside Down Mortgage FAQs’ Category
Defaulted and Foreclosed in Missouri
July 19th, 2009
I defaulted on a home mortgage and they foreclosed on my home. I owe $60,000 difference. How much tax will I owe?
Is this only a one time tax? This is in Missouri. Thanks for your answers!
If you're new around here, you might want to subscribe to our Upside-Down Mortgage RSS feed. It's quite likely the only feed of it's type on the internet!
Posted in Foreclosure, Upside Down Mortgage FAQs | 
Tags: 000, default in missouri, default in mo, defaulted, defaulted on mo loans, defaulted on mortgage in mo, defaulting, foreclosed, Foreclosure, foreclosures in missouri, how much tax will i owe, how tax works foreclosure, how tax works with defaulted loans, loan in missouri, loan in mo, missouri foreclosure, missouri loans, mo foreclosure, mo loans, one time tax, owe $60, owe the difference, tax on defaulted loan, tax on difference, tax on foreclosed home | 
1 Comment »
Have you ever considered walking away from your mortgage?
July 16th, 2009
If you own a house anywhere these days, you probably owe more on it than what it's worth. The banks are refusing to modify mortgage rates even if you have great credit. If you live anywhere in Michigan, the market is so bad, you can't sell it without losing a ton of money. Would you walk away and let the bank take it back?
I find it interesting that some people can be so judgmental as to generalize and call everyone irresponsible for being in the position of owing more on their house than what its worth.
Not everyone made stupid choices. Luckily we aren't in that position but I feel bad for the people who work hard, make their payments on time, had equtiy in their home then watched it slowly go down the drain. If you live in Michigan, especially the Detroit area, you know what I'm talking about.
Posted in Upside Down Mortgage FAQs |
Tags: banks, banks refusing to modify mortgage, considering walking away, detroil real estate problems, detroit area, detroit foreclosure, detroit homes, detroit houses, detroit houses worth little, detroit real estate, homes in michigan, let bank take home back, let bank take house back, let detroit banks take homes, let detroit banks take houses, lose equity in home, lose money, michigan homes, michigan houses, michigan real estate, modify mortgage rates, modifying mortgage rates, Mortgage rates, owe more than house worth, stupid choices, upside down in detroit, upside down on mortgage, walk away, walk away from detroit homes, walk away from mortgage, walk away in detroit |
1 Comment »
How to Save Your Home: Your Guide to Loss Mitigation
July 15th, 2009
Description of How to Save Your Home: Your Guide to Loss Mitigation
This book reveals step by step instructions and negotiation strategies based on real life case study of how five families successfully stopped foreclosure despite being $7,000 to $30,000 behind on the mortgage.
Buy How to Save Your Home: Your Guide to Loss Mitigation (Paperback) at Amazon
Posted in Behind On Mortgage, Foreclosure, Help with mortgage, Loss Mitigation, Loss Mitigation Consultant, Loss Mitigation Department, Mortgage Problems, Short Sales, Understanding Mortgages, Upside Down Mortgage FAQs |
Tags: Behind On Mortgage, get out of mortgage situation, getting to know loss mitigation, guide to loss mitigation, how loss mitigation can help, how to save home with loss mitigation, how to save my home, how to save your home, how to save your house, how to save your property, how to work with loss mitigation, Loss Mitigation, loss mitigation books, loss mitigation consultants, loss mitigation guid books, loss mitigation guide, loss mitigation officers, loss mitigation offices, loss mitigation stop foreclosure, making loss mitigation listen, negotiate with bank, negotiate with loss mitigation, negotiate with loss mitigation officer, stop-foreclosure, stopping foreclosure, what is loss mitigation, work with loss mitigation |
No Comments »