Friday, January 4, 2013

Options

It's been almost 5 years now since we moved in this house and out of the other one. We're happy with our current abode but not too happy with the fact that until now, our other house is still up for sale. We had a few inquiries over that course of time but none materialized. Thanks largely to the current housing situation, not many people want to invest in another house for now. As the years go by, we've been thinking of different ways to get rid of it. It would be wonderful to sell it but since that's not happening, we're now considering going to the bank to see what our options are.

But before we do that, I decided to poke around online and see what's out there for homeowners like us. There are quite a lot of information out there but one that caught my attention is principal reduction program that one bank in particular is offering. It's basically an offer to reduce the principal of the mortgage.But upon reading more about this program, I realized that we don'r qualify for it. At least not for this specific bank's offer anyway. We've been up to date with our payments with the other house even if there are times it's quite hard to make both ends meet. Apparently, that's a point against us to qualify for this program. I guess I better keep on looking and see if there's anything out there for us who try to our hardest to keep up with our payments. I wonder if we should just skip on paying that mortgage for a couple of months and see if we'll get an offer in the mail. Sigh.

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