no job AND selling not an option, which property mortgage payment would be priorty--the home you live in OR your income property.
2006-12-26 17:47:29 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Obviously the home you live in is more important. Have you thought of contacting a hard money lender to assist you? Sometimes they can set you up with no payments for 6 months and repair your credit as well during that time period
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2006-12-27 14:03:28 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You want to try your best to make both of those mortgage payments. Even if you don't have a job, you can qualify for another mortgage (before you let your payments get extremely late). Depending on your credit score, you may qualify for a "no doc" loan which means you do not list your income or source (nothing is listed on the application for employment). I would suggest you refinance until your situation gets better or take a second mortgage (equity line of credit) before you let one of these properties end up in foreclosure.
2006-12-27 09:13:33 · answer #2 · answered by Martini Babee 4 · 0⤊ 0⤋
Personally, the roof over my head is more important.
2006-12-27 01:50:43 · answer #3 · answered by Ambassador Z 4 · 0⤊ 0⤋
the home you live would be more important. considering the remote possibility that one may have to be foreclosed on.
2006-12-27 01:51:15 · answer #4 · answered by QandA 3 · 0⤊ 0⤋