|
I bought the condo in Feb 2005. Loan was $138,500 with a three year arm
of 3.75 till July of 2008. Have called and asked realtors and had a
market analysis done. I owe more than it is worth. There is no equity in
it. Appraised at around $110,000. I'm from Ca. Daugter talked me into
buying. I'm on a fixed income and with a medical problem that I'd
like to deal with back home. Never should have bought it. Here in Co
they sell homes and condos for much more than they are worth. Hope this
clarifies. I'm under the impression that that is why I pay PMI so if I
default, FHA picks up the difference. My only concern is making sure
that FHA pays the difference and they do not come after your and take
your income.
|
|
Re: Foreclosue
