Posted on: 27th Nov, 2010 08:08 pm
bought 06, 80/20, downsized income 08 by 1/2. bankruptcy this yr. House is 75k underwater and falling down around us and we are at end of rope. just shoot me:( or what would you suggest? been calling Citi since early 09 they do not want to help.
Welcome Guest,
Did you include the property and the mortgage in your bankruptcy filing? If you got the mortgage discharged in your bankruptcy filing, then you are not personally liable for paying off the loan any longer. You can surrender the property to your lender and he will sell it off in order to recover his dues. You won't be liable for paying any deficient balance to the lender as the mortgage has been discharged in your bankruptcy filing.
Did you include the property and the mortgage in your bankruptcy filing? If you got the mortgage discharged in your bankruptcy filing, then you are not personally liable for paying off the loan any longer. You can surrender the property to your lender and he will sell it off in order to recover his dues. You won't be liable for paying any deficient balance to the lender as the mortgage has been discharged in your bankruptcy filing.