From today’s Globe:
Q: I am a loyal reader who should have taken your advice. When my adjustable-rate mortgage was recently “recast” to current interest rates, the unpaid interest was added to the mortgage principal balance. I now owe about 110 percent of my home’s market value. I recently lost my tech job, which paid over $100,000 annually. Do I have any recourse to convince the mortgage lender to do the right thing? –Rick C.
A: No. And, please, what is your definition of “right”?
(P.S. Yes, I realize I’ve basically just reposted parts of articles from today’s newspapers … slow news day, plus I’m a bit tired & busy; better tomorrow.)
Source: Praying for a ‘short sale’ – By Robert J. Bruss, Inman News, by way of The Boston Globe
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