I have a mortgage loan with Banco Popular for an apartment located in XXXX, XXXX XXXX. My original mortgage loan was with XXXX XXXX but, a few years ago, Banco Popular became the loan servicing company. I originated my loan on XXXX/XXXX/2006 for {$160000.00} and the outstanding balance to date is {$140000.00}. 

I am writing because the current loan balance appears to be greater than the appraisal value of the apartments in my complex, therefore, I am being unable to sell the property to cover the mortgage loan. When Banco Popular became the loan servicing company, I contacted them to try to reduce my monthly payment and see if any modifications could be made to the loan based on the new initiatives created by the government to assist homeowners in my situation. The bank representative stated that my only option was to refinance my loan but that would have resulted in a higher principal and additional closing costs. 

Currently, I am seriously considering transferring my property to Banco Popular in payment of my mortgage debt since I will not be able to renegotiate my monthly payments. My only concern is that this would significantly affect my credit. I am writing to the Consumer Financial Protection Bureau as my last resource before making the final decision. 
