Can I refinance an ARM that hasn’t reset yet?
by Mortgage Rates on Thursday, November 25th, 2010 | 3 Comments
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I would sell it and if there was a neg balance, you could get a personal loan to pay it off.
Or rent it and pay the difference each month. However, make sure that your condo assoc allows renting it.
i think you should call your lender and let them know of the market situation and maybe have them extend or freez your mortgage terms…
Hi Mathew, my answer to you on your other question was removed for some reason.
Regarding this question, I do short sales for a living (even have one in Naples). Although you are upside down on your mortgage, Aurora loan services will do a loan modification to get you into a fixed mortgage or a lower mortgage payment. However, based on what you described here and in your other post, I doubt that will be beneficial to you.
E-mail me if you have any further questions.
Regards…