Strategic Default Monitor – How To Strategically Default

Wednesday, May 30, 2012

Got Questions? Get Answers...PA Seeks Direction In Order to Reduce His Anxiety

Got Questions?

[I] have read alot about it. I don't think i would qualify for a short sale as i have income, but bank only wants to lower interest for five years on a loan that is $100k underwater. I hate the abandoned neighborhood and the house is falling apart even though it was built in 2003. AZ is a non-recourse state.

I am current on 1st mortgage there is no second. I need to find somewhere to live.

1.) WHEN SHOULD I TRY AND RENT A NEW HOME?

2.) How long does "freddie Mac" (serviced by wells fargo) take to evict you once payments are stopped?

3.) should i occupy the home until evicted?

I am nervous, worried and frankly afraid. I am a disabled single dad with NO-ONE to help me. I am confused in spite of my reading about what to expect. Please respond as I am fairly desperate. I don't know if I have asked all the right questions or considered all of the possibilities yet. PLEASE HELP!

Sincerely, PA


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