A client's son in Colorado is in the now typical position....bought a home that became a rental, bought another home. Now both have declined in value to below mortgage balances..."underwater".
Oh, and his wife is undergoing chemo for colon cancer too.
I'm pretty sure that he'll have trouble with the mortgage restructuring since he "owns" two properties, but I don't deal with these situations on a regular basis.
Anyone have any guidance? Preferably Colorado specific?