What am I gonna do?! [Archive]

SubPrimeME

04-03-2009, 06:35 AM

So my parent's in law helped us buy a house prior to the BK and we are now renting it from them. The idea is we wil purchase it from them in 3 years. Well the house has dropped some 30-45k since we bought it, and if the trend continues in 3 years we may be at some rediculous upside downess.... So WTF!? How will I get a loan on a house when the appraised value is less then what they owe?! this sucks. We bought the house for 345k, we put down 10%- and the house is worth maybe 300-310 now...

So will we have to have a huge down payment?!? Can the PIL loan me more money to put down?!? Should we just sell the place in a few years and take the loss.... ugh.

American Dream = dead



	Bankruptcy Forum > Before the Discharge > General Bankruptcy Talk > What am I gonna do?! PDA What am I gonna do?! SubPrimeME 04-03-2009, 06:35 AM So my parent's in law helped us buy a house prior to the BK and we are now renting it from them. The idea is we wil purchase it from them in 3 years. Well the house has dropped some 30-45k since we bought it, and if the trend continues in 3 years we may be at some rediculous upside downess.... So WTF!? How will I get a loan on a house when the appraised value is less then what they owe?! this sucks. We bought the house for 345k, we put down 10%- and the house is worth maybe 300-310 now... So will we have to have a huge down payment?!? Can the PIL loan me more money to put down?!? Should we just sell the place in a few years and take the loss.... ugh. American Dream = dead