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WHAT's the DEAL with Foreclosures- How about a SHORT SALE
I think the only thing you can be certain of is if you are not paying at all you will in the end lose your home.
CALL your bank, GET someone to answer your questions.  TAKE DOWN their name ID number and track the time of your call.  ASK THEM TO NOTE YOUR account that you did call.
Yes in some places the amount owed is more than the home is worth.  WHAT IS YOUR PLAN, do you want lose the home.....  There are ways to get yourself out of the hole.
Find an ethical solution, call a local REALTOR and discuss your options.  YOU DO HAVE OPTIONS. A short sale in short...... is to sell your home at market value and asking the bank to take less on your loan.  There are many benefits to you by doing it this way.  You can get ahead in the end. 
See the article below,  but really check with your local contacts to fully understand what is happening in your world.
Melissa Miller - RE/MAX IN MOTION
NAR Writes Federal Officials about the Foreclosure Mess; FHFA Releases Statement On October 12, 2010, NAR wrote to Treasury Secretary Geithner, HUD Secretary Donovan, and Acting Director DeMarco of ... more

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