An almost daily question:  Should I keep paying my mortgage with my house being so far upside down or should I just let it go? The real answer is:  It's up to you. Some things that may help you decide: Pay or Go (no longer available):  Handy tool for doing an actual cost basis/financial approach to the decision making process.  Make sure to read some of the links to national stories on the subject. Watch this ABC prime time news story.  It not only talks about the growing trend of strategic defaults, but also the irony of the Mortgage Bankers Association recent Short Sale of their own corporate building.
What ever you decide, know that you have several options including a Short Sale.  None of the options are "pain free" as most will come with some form of a either extended terms in mortgage or hits to your credit score. If you need help to sell your home, Contact the Brad Officer Real Estate Team.

Posted by Brad Officer on
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