Four Options for Over-Financed, Underwater, Too Much Mortgage?

Over-financed, over-mortgaged, underwater, negative equity, or upside down; all of these terms mean the homeowner owes more on the house than what the house is worth. Forbes finds that nearly 6.4 million Americans have borrowed more than their house is worth, despite steady increases in the value of homes over the last two years. Click here for the article. Dallas has a litany of homeowners that Continue Reading

Take Over My Payments

Typically, the official way to take over payments on home foreclosures is through assumable loans. In 2010, there were not many assumable mortgages available, with the exception of some VA (Department of Veteran Affairs) and FHA (Federal Housing Administration) loans, which may be assumable without lender permission and without qualifying. An assumable mortgage allows you to take over the owner's Continue Reading