Need advice

Posted by Mitch on November 19, 2008 at 20:54:56:

My company transfered me to another California location in January 2008. As a result I have now have two home loans, the one I vacated and the new one where I now live. I have been making both payments for the past 11 months and have come to the realization that I'm throwing my money away. The home in N.Cal was purchased for $483K,is currently valued at $310K. My home loan amount is $386K. I have a cash offer from a perspective buyer of $310K and would like to sell; unfortunatey, I would lose $170K. I was wondering what my options are.

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