How do I get out of an underwater mortgage?
My mortgage is currently underwater by over 23%. I like to get some ideas of what my options are to get out of this situation. I'm also option to the idea of relocating. My loans is not owned by Freddie Mac or Fannie Mae; so, I'm not eligible for the HARP program. So, please offer me some other options. Thanks in advance.
Asked By: Peruz - 2/20/2012
Best Answer - Chosen by Asker
Unfortunately, the easiest way out is to simply stop paying your mortgage... More
Answered By: Unca Alby - 2/20/2012
Additional Answers (5)
You have two options... More
Answered By: MCSHughes - 2/20/2012
You don't qualify for any of the 'save your house programs'? (which I would hope you would research extensively... More
Answered By: `RAWR` - 2/20/2012
Are you looking to just get out of the mortgage because you don't want to pay it any more...or do you have no choice (unemployed... More
Answered By: deb s - 2/20/2012
Short sale. This will ruin your credit. Do you want to get out of the house just b/c it's underwater? Or can you not afford it? IF it's only b/c it's underwater, then you wait it out. People giving up on their loans just b/c they are underwater is why the economy is still in the tank.
Answered By: the kid - 2/20/2012
Continue to make payments and it'll eventually not be underwater.
Answered By: Insurance Pickle.com - 2/20/2012
(89) Local Jobs Paying $19-$97 Per Hour- Available Today. Apply Now!
$21/hr Start, Avg Pay $72K/yr No Experience Needed! Get Started.
New job opportunities added daily. Search & apply for DC jobs now.
Click. Search. Apply. Free!
Other Career Questions
What jobs are there in the business field that are night jobs? Places and job titles please. Im have a BA in Business Admin and looking for a night job, already have a morning/day job.
Enumerate these jobs Say, patent application writting. patent application writing. In a company, what jobs are needed to keep confidential?
Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.
Best-Paying Work-from-Home Jobs
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
2013 Engineering Jobs Outlook
Engineers will find job opportunities in select disciplines in 2013, with candidates who are all-around, client-oriented businesspeople in demand.
Best-Paying Jobs by Major
What could you earn with a particular four-year degree? Find out by checking out this list of the top-paying jobs for 20 of the most common majors.
Eight High-Paying, Secure Jobs
Want to earn a good salary and enjoy a measure of job security as well? Check out these well-paying jobs on tap for fast growth in the coming years.