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Short Sell. Good or Bad Investment?
I bought a home approximately 5 years with a ten year interest only mortgage, no down payment; 100% financing. As the years have past I've noticed my mortgage payment is slowly getting higher. In addition, my home value has decreased (upside down) by $100K! I live in the Washington Metropolitan area where there is a chance to recover but I feel I will not. Also, my HOA is constantly harrassing me and charged me over $2K in fees, I am somewhat struggling with the payments due to changes in income/increasing payments, and I can no longer save. I won't make the choice if the loan provider doesn't pay the difference in the short sell but I'm not sure how this will affect my credit? HELP! Stressed homeowner.

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Overpay interest only mortgage or keep investing in s/shares ISA ?
Just wondered if any of you have any opinions on making overpayments on an interest- only mortgage or whether it would be more savvy to keep investing into our stock/shares ISA ? We have £115,000 left on our mortgage with 15 yrs left to find or make up the lump sum. Our mortgage reverts back to SVR of 1.16% after being fixed for past 5 yrs @ 5%. We are going to keep the payments at £500 so it will be making overpayments and chipping away at the mortgage amount. We also invest £300 per month into s/s ISA's which have been doing well..... our dilemma is should we also chuck this £300 at the mortgage or keep investing. The final lump sum will be paid using these savings and a final salary pension which is enough. I'd just like your opinions... we seem to be saving alot now and not really "living" at the moment where the pension would pay off the lump sum and still provide us with a pension (albeit a smaller one..£18K) Thanks

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My fixed rate mortgage ends in November and I am unsure what the next step is.?
When my fixed rate ends, what do I do to get the best deal? What do I ask for? I have been advised to go on an interest only mortgage for now as it is pointless paying off any of the actual loan? Is this correct. I don't understand all the types of deals their are so I am unsure what to do as I don't wand to get ripped off. I bought my house 3 yrs ago so I am aware it has come down in value, does this have any effect? Thanks

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