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Can I get a lower mortgage payment after paying off a large amount from selling?
I'm currently about to go through a divorce with my husband and we are trying to figure out what to do with our home. I would like to sell it and get what we can get for it and pay off a big chunk of the mortgage. However, I need to know that if once I pay off that big chunk and not own the home anymore....will the mortgage company lower the payments of the loan? I'm trying to think of anything I can to get out from underneath this house. Renting might be a possibilty but we won't get our monthly mortgage payment for rent. I'm just hoping that our mortgage company will lower that payment so that he and I can go our separate ways. Hopefully someone has some good advice for me!

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Is it mortgage fraud??
I knew someone with a $300k house, $275k mortgage....not yet in trouble with mortgage. He goes out to buy an investment property..rents it out for a few months....starts to default on his OWN mortgage....moves to the investment home...and bank forecloses on his first home. His mortgage was wiped clean.....and he's living comfortably in "investment" home..less a lower mortgage payment. Is that fair?

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Over Price Property Question?
I have a friend that bought a house, refinanced and now has a mortgage loan for $300,000. My friend no longer wants the house. My friend wants to move in a newer house for a cheaper price. Is there a way that I can get the $300,000 home from my friend for about 195,000 or less. I would like the house but I do not want to buy it for that amount. My friend can not rent it or sell it because the rent and price of the house is to much. My friend is thinking of getting into a house before she losses it and can not get another home. What should my friend do? What can I do? Also, my friend is unable to refinance to get a lower mortgage payment?

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