I am hoping you can offer some help regarding our current situation. Let me preface this by saying that we are active duty military and are forced to move at other’s discretion. We bought our current home a little over a year ago in the Phoenix metro area. We were given orders to relocate and we did not want to lose money on renting a home, so we bought the cheapest house (a short-sale) we could find that would accommodate our family of 6. Now, we are facing orders to move again, soon. We purchased our home for about 200,000 and current market conditions place our current value around 35-40% less than what we owe. We have no problems making our payments, we budgeted well and did not buy beyond our means. However, what can we do? We do not have 70-80,000 to bring to the table if we sell for less than our home is worth. We are considering, when the time comes for us to move, to try a short-sale or let the property go into foreclosure. We are hoping since my name in not on the loan, only my husband’s credit will be affected and we can still purchase another home. Do you have any suggestions for individuals in this specific situation?
Just a note for some comments. Yes, we knew values were falling, that is why we thought we could get a good deal. Was it reasonable to think that the value was going to drop by 40% in one year? You may say yes, looking back now, but at the time, most average home buyers did not. As far as knowing we were not going to stay, you’re right; that’s why we put 10% down. We have always purchased homes when we relocate and either break even (boost to credit score for paid-in-full mortgage OR made money). So PLEASE do not say that people like me are to blame for your problems. We have exceptional credit, put 10% down, used traditional, institutional financing, and bought a home that was 20% below market value for close proximity comps at the time.

I could use some help on how to get a small mortgage on a low end property in Tucson or Phoenix Arizona area. Credit is fair. No recent problems Any help on real information. Please no sassy answers.

My friend in Phoenix, AZ is thinking of foreclosing his house. The price fell down by 40% since he bought it in 2006. He has no financial trouble but wondering does it still make sense to pay such a high monthly mortgage on his devalued home. Any suggestions?

Thanks.

I live in California and need to have a condo in Phoenix, AZ foreclosed on. It has gone down 100k and I can’t afford it anymore.

Both California and Arizona have anti deficiency laws protecting me. I have talked to two lawyers (one in CA and one in AZ). They both say if my loan is a "non-recourse loan" I am protected.

How do I find out if it is? I have been going through my loan documents, but there is so much information there. I also called CHASE (my lendor), but the woman had NO CLUE what non-recourse meant.
I don’t want to call chase again because someone will probably know I want to foreclose.

I have not refinanced on this loan at all. (I did on my CA house during the 30 years I’ve lived here).

But before stopping payment on the mortgage for the Arizona COndo, I want to be 100% sure my loan is a non-recourse.

HELP!
I just want to make sure I am getting the right information. I have NOT refinanced on the mortgage for the PHOENIX, AZ condo that will be foreclosed on…

I HAVE refinanced on my house in California (that I live in) since moving in 30 years ago.

Are these loans kept separate? I just want to make sure that refinancing (before buying the AZ condo) on my own house won’t affect how the loan for AZ was taken out.

I’m a licensed substance abuse counselor interested in furthering my education in the counseling field. I will soon complete a bachelors of psychology degree. I have a growing young family and a mortgage – making moving or commuting to a new school a very difficult and costly proposition for a number of reasons. I have been considering enrollment into the mental health counseling program at the University of Phoenix. I’m interested in opinions, etc. but I am most interested in feedback from those who have enrolled in this particular program. Any help is appreciated.

Today everything piece of land or house that you see in the neighborhood runs on mortgage. In this article we would like to discuss a different aspect of a mortgage viz. mortgage refinance lenders. If you have debt and mortgage the terms and conditions are different; in the case of refinancing we have to necessarily redefine this aspect of the mortgage. There can be various reasons why a home mortgage has been refinanced and the most common ones are given below:

To work with a better interest that you would make it easier for the people to pay back their loans

To include another debt so that the individual can clear both the debts simultaneously

To consolidate all the loans of the individual to facilitate clearing all his existing loans at the same time

Mortgage refinance lenders are people who will assist you in this entire process but the first requirement is that they will ask you the exact reason for this change. After contacting a lender you can look through various types of mortgage refinancing products and also different types of mortgage loan. Different types of mortgage loans will only include. Many types of loans are there. They normally have an access to the host of mortgage refinance lenders. Once you have that, you can select the lender that appeals the most you.

The compensation allotted by each lender depends upon the mortgage terms sent by him and in most cases these lenders have a small margin and a high level of competitiveness. There are many places where you can search for lender but the most common ones are through the yellow pages or newspapers but a new outburst of services by lenders has been spotted on the internet. Their phone numbers are displayed in these sites; however they avoid giving the rates until you signup. After signing up they will give you a huge directory with all the lenders that work for them and their rates.

I came across this website as they provide good mortgage refinance information and how you can deal with mortgage refinance lenders.

I was in the military for 6 years after high school. I’ve managed to get a pretty good job and have been living well since getting out. I work for a very well respected multinational corporation that I’d like to stay with. I’m married, and have a mortgage to pay, so I’ve got no intension on quitting my job to become a full time student. Anyway, I feel like I may as well use my GI Bill for some kind of education program, as it would be a waste, not to use the k in college money that I have already earned.
I’m thinking that a degree in business management might be helpful for climbing up the ole’ corporate latter. University of Phoenix offers programs that I could do while also working and get my degree in a relatively short period of time. Do companies take these kinds of degrees seriously, or would I be better off just taking a class or two at a time in the evenings and hashing out an AAS from community college, and transferring to a state university?

I am a full time working 22 year old. I have a mortgage, car and other various bills that I must pay each month. I desire to go back to school for Environmental Science, but cannot seem to find the flexibility to go to a real campus. My main goal is to get into conservation. Most conservation jobs are with the government-if I were to elect to do an online BS program for Environmental Science (example University of Phoenix), is that going to be looked down upon when I go to get a job? So many people have such negative feedback and words for UOP that I’d hate to waste four years and thousands of dollars and not be able to land my dream job. Advice/comments/any help?

I was rec’ing unemployment, when I interviewed for a part time job they told me I would most likely work close to 40 hours(this is not in writing) I started the job and I only get 30hrs a week. I am still on probation for that job and want to leave because I only make a few dollars more than I was getting on unemployment. I can’t pay my mortgage even with a months pay and it is a struggle for me to say there. I have two choices (for sake of having a roof) move to another state where my job is not, so I cant transfer or back to my home city where it can transfer but I don’t know if they will. I am in Fl and home is S.C. will I be able to get unemployment? I will be filing for unemployment in Fl. I have another problem I attend U of Phoenix and can only miss 1 time per class and each class is 5 weeks, but I finish in April, what I want to do it stay here as long as possible to finish school, but I want to get unemployment until then. Please leave serious answers, I have kids and need to make the right decision.
By the way I am still looking for another job.

My husband and I are relocating Arizona and buying a new house. We have to fit into a budget though, so we are wondering about some utilities and their costs.

Example: When you rent – Say you pay 00 a month and water, sewer and trash are included.

When you buy a house – your mortgage is maybe 0 a month and then you pay water, sewer and trash independently.

Our question is this…..

In Arizona (Phoenix or otherwise) what will we pay approximately per month for…

A. Water
B. Sewer
C. Garbage
D. Power (We are coming from Seattle and don’t have AC running 24/7ish)

(This is for a 2 adult 4 child family. So 4 bedroom house approximately)