We are about 1 1/2 - 2 years behind on our mortgage payment. Can we save our home?

Question

I have been in the military for 2 years, and the house was originally purchased with a VA loan due to prior service. I got behind before I left, and it was protected by the soilders and sailors act, so it is still in my name. The person who was renting from me did not make any payments the whole time. I am getting a medical discharge, and leaving the army in 3 weeks. Any suggestions?

Answer 1

You are in a tough spot. Keep your chin up and hope things get better in the future.

Answer 2

The first thing you need to do is to go after your renter. In a situation like this you should have had an agent to take care of the rent while you were away; it's no wonder the tenant did not make any payments knowing there was no one to whom to make the payments. To let a tenant go even a month without paying rent in unconscionable, and you should never have allowed this situation to develop, but you did, and it is partly why you are now in the situation you find yourself. It's bad management, and you need to overcome this before you do anything else.

Answer 3

You may have to look at a hardmoney lender to save the home. Check out the free evaluation form at the source website. Good luck.

Answer 4

i have no experience with realty but if you can pay your monthly mortgage now you just have to keep paying it for an extra 1 1/2- 2 years

sorry i can't help more

Answer 5

Talk to your mortgage company and ask what your options are. Only they know.

If your renter is in the Navy, call shore patrol. They will pay you then take it out of his azz.

Answer 6

You can try to refinance it. Contact me if you're interested

Answer 7

Depends on the LTV, look into private Investor's. That is a tough situation.

Please email if you want to look into this

[e-mail]

Answer 8

Maybe try refinancing?