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What can i do?

I live in Riverside county and my current home value is less than what my loan is.  I'm having problems paying and I heard

 that the government is trying to approve a loan modification where the lender can bring loan down to what the value of the home is. Anyone know anything about this? or any other help i might get?

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You might be thinking of a bill in the U.S. Congress called the Home Retention and Economic Stabilization Act (H.R. 6076).  You can read a favorable description of the bill from the Center for American Progress, and learn more about it on THOMAS.


Posted 4 months ago ( permalink )
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It depends what you want to do -stay in the house -then you need to keep paying you can however -and should ask your lender if they will accept a lower payment.If you wish to sell the house -you can apply for a short sale -this means you would put your house on the market for the going sales price -hope to find a byer and that the bank will accept their offer -you will not end up with any money,but you won t owe anything either  good luck  agin first step is to talk to your lender they will have all the answers -remember they don t want to loose money!


Posted 3 months ago ( permalink )
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