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January 25, 2009 at 4:15 PM #14913January 25, 2009 at 4:37 PM #335848TheBreezeParticipant
I’ve told him he has to be willing to let it go to foreclosure to get the taxpayers to pay ball. As of now, he’s planning to stop paying both mortgages Feb 1.
Fixed Your Post.
January 25, 2009 at 4:37 PM #336175TheBreezeParticipantI’ve told him he has to be willing to let it go to foreclosure to get the taxpayers to pay ball. As of now, he’s planning to stop paying both mortgages Feb 1.
Fixed Your Post.
January 25, 2009 at 4:37 PM #336262TheBreezeParticipantI’ve told him he has to be willing to let it go to foreclosure to get the taxpayers to pay ball. As of now, he’s planning to stop paying both mortgages Feb 1.
Fixed Your Post.
January 25, 2009 at 4:37 PM #336291TheBreezeParticipantI’ve told him he has to be willing to let it go to foreclosure to get the taxpayers to pay ball. As of now, he’s planning to stop paying both mortgages Feb 1.
Fixed Your Post.
January 25, 2009 at 4:37 PM #336378TheBreezeParticipantI’ve told him he has to be willing to let it go to foreclosure to get the taxpayers to pay ball. As of now, he’s planning to stop paying both mortgages Feb 1.
Fixed Your Post.
January 25, 2009 at 5:30 PM #335873sdrealtorParticipantIf he wanted to stay, he could stop paying on the 2nd and there is very little liklihood of CW foreclosing on him. He may want to consider that as an initial strategy. If he wants to do a short sale, he needs to be able to document a hardship which isnt all that tough to do. An experienced short sale agent will guide him through preparation of the short sale package. He will need to get CW to agree to it and the 1st TD holder will probably give CW 2 to 3K to release their lien. Whetehr CW will accept that or want more will be determined in large part to whether he has recourse loans or not.
Where is the property located? Are his loans original or refied? Thats a key question and will determine how successful he’ll be.
January 25, 2009 at 5:30 PM #336200sdrealtorParticipantIf he wanted to stay, he could stop paying on the 2nd and there is very little liklihood of CW foreclosing on him. He may want to consider that as an initial strategy. If he wants to do a short sale, he needs to be able to document a hardship which isnt all that tough to do. An experienced short sale agent will guide him through preparation of the short sale package. He will need to get CW to agree to it and the 1st TD holder will probably give CW 2 to 3K to release their lien. Whetehr CW will accept that or want more will be determined in large part to whether he has recourse loans or not.
Where is the property located? Are his loans original or refied? Thats a key question and will determine how successful he’ll be.
January 25, 2009 at 5:30 PM #336287sdrealtorParticipantIf he wanted to stay, he could stop paying on the 2nd and there is very little liklihood of CW foreclosing on him. He may want to consider that as an initial strategy. If he wants to do a short sale, he needs to be able to document a hardship which isnt all that tough to do. An experienced short sale agent will guide him through preparation of the short sale package. He will need to get CW to agree to it and the 1st TD holder will probably give CW 2 to 3K to release their lien. Whetehr CW will accept that or want more will be determined in large part to whether he has recourse loans or not.
Where is the property located? Are his loans original or refied? Thats a key question and will determine how successful he’ll be.
January 25, 2009 at 5:30 PM #336316sdrealtorParticipantIf he wanted to stay, he could stop paying on the 2nd and there is very little liklihood of CW foreclosing on him. He may want to consider that as an initial strategy. If he wants to do a short sale, he needs to be able to document a hardship which isnt all that tough to do. An experienced short sale agent will guide him through preparation of the short sale package. He will need to get CW to agree to it and the 1st TD holder will probably give CW 2 to 3K to release their lien. Whetehr CW will accept that or want more will be determined in large part to whether he has recourse loans or not.
Where is the property located? Are his loans original or refied? Thats a key question and will determine how successful he’ll be.
January 25, 2009 at 5:30 PM #336403sdrealtorParticipantIf he wanted to stay, he could stop paying on the 2nd and there is very little liklihood of CW foreclosing on him. He may want to consider that as an initial strategy. If he wants to do a short sale, he needs to be able to document a hardship which isnt all that tough to do. An experienced short sale agent will guide him through preparation of the short sale package. He will need to get CW to agree to it and the 1st TD holder will probably give CW 2 to 3K to release their lien. Whetehr CW will accept that or want more will be determined in large part to whether he has recourse loans or not.
Where is the property located? Are his loans original or refied? Thats a key question and will determine how successful he’ll be.
January 25, 2009 at 5:49 PM #335883stansdParticipantFirst, Breeze, that’s funny.
Thanks for responding sdr. I believe both are first loans, not refi’d, so they should be non-recourse. Property is in Bellflower, CA-1.5 hours north of here.
I’d love to have him talk with you 1:1, and possibly even use you, but I’m guessing it would be tough to represent someone that far from here.
He doesn’t have any explicit hardship other than the 47% of income going to his mortgage, which leaves him 32k to live on in CA with 2 kids. His compensation is down-he’s on bonus, and there aren’t many bonuses around these days.
Stan
January 25, 2009 at 5:49 PM #336210stansdParticipantFirst, Breeze, that’s funny.
Thanks for responding sdr. I believe both are first loans, not refi’d, so they should be non-recourse. Property is in Bellflower, CA-1.5 hours north of here.
I’d love to have him talk with you 1:1, and possibly even use you, but I’m guessing it would be tough to represent someone that far from here.
He doesn’t have any explicit hardship other than the 47% of income going to his mortgage, which leaves him 32k to live on in CA with 2 kids. His compensation is down-he’s on bonus, and there aren’t many bonuses around these days.
Stan
January 25, 2009 at 5:49 PM #336297stansdParticipantFirst, Breeze, that’s funny.
Thanks for responding sdr. I believe both are first loans, not refi’d, so they should be non-recourse. Property is in Bellflower, CA-1.5 hours north of here.
I’d love to have him talk with you 1:1, and possibly even use you, but I’m guessing it would be tough to represent someone that far from here.
He doesn’t have any explicit hardship other than the 47% of income going to his mortgage, which leaves him 32k to live on in CA with 2 kids. His compensation is down-he’s on bonus, and there aren’t many bonuses around these days.
Stan
January 25, 2009 at 5:49 PM #336326stansdParticipantFirst, Breeze, that’s funny.
Thanks for responding sdr. I believe both are first loans, not refi’d, so they should be non-recourse. Property is in Bellflower, CA-1.5 hours north of here.
I’d love to have him talk with you 1:1, and possibly even use you, but I’m guessing it would be tough to represent someone that far from here.
He doesn’t have any explicit hardship other than the 47% of income going to his mortgage, which leaves him 32k to live on in CA with 2 kids. His compensation is down-he’s on bonus, and there aren’t many bonuses around these days.
Stan
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