Georgia  |  Bankruptcy

Legal Question

Asked on: 5/09/12, 5:05 pm

i have just applied to do a loan modification with INDY MAC MORTGAGE SERVICES for a loan I have and they said i don't qualify for such a loan modification since i am current on my mortgage loan and i am not at risk of default since i have sufficient net income to pay my current mortgage, which is not truth cause i am unemployed and is my wife the only one working now taking care of all the house hold obligations including mortgage...so, my question is : if they denied such a loan modification, are they probably going to deny also the short sale in case i want to do a short sale with them based on that same facts mentioned above ? if that might be the case, what is my best option to do if i don't want to keep my home, just leaving the property or file a foreclosure? what are the consequences i may face, the worst scenario to happen if I choose to do this

this is driving me crazy , cause, i don't want to keep this home making the high payments i am making now...letís say i want to keep the home to have it rented later on ,well.. nobody is going to pay a high rent to cover the amount i am paying now ($1224) i have two mortgages , one for $946 and second one for $278...thanks for your help.

alvaro

al3616@comcast.net

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