Mortgage Forum
Consequences after foreclosure with Countrywide
This is a topic titled Consequences after foreclosure with Countrywide made in the Home Mortgage section, belongs to our Mortgage Chat category; Me and my wife decided to walk away. We live in California, first time buyers, bought a house for $278,000. We owned it for 3 years, fixed 30 years ...
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| Members List | Search | Today's Posts | Mark Read |
September 22nd, 2008, 05:49 PM
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| Senior Member Registered: May 2008
Posts: 907
|  Consequences after foreclosure with Countrywide Me and my wife decided to walk away. We live in California, first time buyers, bought a house for $278,000. We owned it for 3 years, fixed 30 years 6.5 interest only for 5 years, have not refinanced and no equity. In Spring 2008 our house was appraised by county assessor for $181,000. Now similar house in our area would sell for between $100,000-$130,000 may be even lower. Plus our house requires a lot of major repairs (we were not aware of them before we bought it). We can afford payments, but it seems not worth it. Also, we have other expenses due to addition to our family. |
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| Topic | Started By | Category | Replies | Last Post |
| House just went into foreclosure w countrywide | Joel Fraser | Home Mortgage | 0 | September 5th, 2008 11:28 AM |
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