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Old 02-06-2008, 07:52 PM
Location: Florida
83 posts, read 366,550 times
Reputation: 29


So I need some advice. We moved down here/Florida for a job in June 2006 and got a 30 year fixed rate for a 160K house with my VA loan. I kept getting offers to refinance using the streamline refinance program where my rate went down to 5.5, still 30 year fixed, but the closing costs ended up putting me upside down in my loan.

My house would probaly fetch maybe 145K and I owe 170K. I was just informed that my company/job wants me in Ohio by Summer. I am pretty sure I am going to try and sell and qualify for a short sale, but what if no one buys it? I know renting it out is an option, but the rent for houses my size on average is 800 a month in my area, while my payment is up to 1350/month because my hazard insurance and tax's increased this year.

I know the VA can hold you liable for the difference....what are my options??...I have the money to pay, but I must move by Summer...I am currrent on my payments and everytime I duscuss it with the mortgage company they won't talk to me unless I am 2-3 months late?

It's annoying because I am trying to do the right thing, but it seems like I can't. I don't want to walk away...what are the laws in Florida regarding if they can go after other assets?

Any advice would be much appreciated.

No matter what I am going to keep paying on the home as long as I can...if I can move to Ohio and rent a house, while paying for this one, I will...but we also have to eat?!?
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