Legal Question in Real Estate Law in California

I purchased a townhouse with no downpayment in '07. It is currently worth about 77% of what it was valued when I bought it. My mortgage payment plus PMI and HOA fees are a big portion of my household income and it makes me angry every month that I pay them. I am seriously considering a strategic default. My loan is from CalHFA. Because that is a government-related agency, will it be harder for me to do this? What is my best option? Thank you!


Asked on 2/04/10, 11:00 am

1 Answer from Attorneys
Terry A. Nelson Nelson & Lawless

You default, they foreclose, your credit is ruined.

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Answered on 2/09/10, 2:54 pm


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