Upside Down Mortgage

Posts Tagged ‘upsidedown’

upside down homes

Question: Why does it matter if you are upside down on a home loan? Why is that a cue to stop making payments? Or is it?

I mean if I owed more on a car than it was worth, I’d still pay for it. This is a common thing, at least somewhat. Why is it different with a home?

Answer: It's belived that whenever the bottom is reached in the housing market, it could be many years before the home is at a value to resell it. With a car one is replaced within 5 yrs in most cases.

Upside Down Cucumbers - Home Vegetable Garden

I am upside down on my mortgage big time. I have both a 1st and 2nd mortgage. I do not know what to do – I am so lost and scared. Because I Have A good credit rating, my mortgage company, Countrywide, won’t help me at all. They will not even consider helping me with a payment plan or anything like that unless I’m behind on payments which means, it will ruin my credit, and We Want Out? Anybody know what to do please help!