Upside down with home of more than $130,000 in Florida. Two loans, second being a HELOC at time purchase to avoid original PMI with Countrywide. BOA bought Countrywide and then sold second to Greentree. 30-year interest only at 6.625 on first and 8.125 on second. BOA will not work with with me as DTI is approximately 21%. This is not a retirement home and will take at least 15 years of consistent growth to break even. I am current and always have been. This is especially concerning as I had $13,000 in out of pocket medical I paid in 2011 for a sick child.
What are my options, if any, other than a short sale scenaro?
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.I'm Upside Down on 30 Year Interest Only Mortgage and Medical Debts. - Scott by Steve Rhode