Lost over 50% equity and have an ARM loan, foreclose?
Posted by Kim on July 24, 2008 at 13:32:05:
We purchased our condo in SD over three years ago for $300K, not larger units are selling for $150K. We have an ARM loan and have not paid any money on principal. When is it time to walk away? Our mortgage, HOA and taxes are $2k a month, which is because of a $300 drop for our current reset.
Any advice?
Follow Ups:
- Re: Lost over 50% equity and have an ARM loan, foreclose? - Consultant1 17:19:59 07/28/08
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- Re: Lost over 50% equity and have an ARM loan, foreclose? - Mary Supinger 15:31:19 07/26/08
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- Re: Lost over 50% equity and have an ARM loan, foreclose? - Gibbins 00:43:43 07/25/08
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- Re: Lost over 50% equity and have an ARM loan, foreclose? - kim 09:07:26 07/25/08
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