What to do in case of negative equity?
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davon
Apprentice
Joined: 19 Jun 2006
Posts: 5
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 Posted: 06/05/08 - 10:52 Post subject: |
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| I am in a position to have negative equity and I never had this on my plate so far, so I am not very well informed with this situation and what I need to do now. Is there something that I can do in case of negative equity? I am opened to all suggestions and I would like to know all that you think is in front of me just now. |
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tibold
Apprentice
Joined: 18 Feb 2008
Posts: 3
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| Posted: 07/04/08 - 22:28 Post subject: |
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| This is one serious business that you have right here. I don’t know how come that this is happening to you juts now. There are two possibilities the first one is that you bought equity and soon after you took this loan the estimated value of that equity dropped, or you took that very much wanted second mortgage. In any case you are not in a very good position right now and I hope that you will be able to get yourself out of this situation as soon as possible. This is not something that I am forcing you to do, but this is something that your bank will force you. |
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