Posted on: 18th Feb, 2008 01:04 pm
hello,
i purchased a condo 2 years ago. i was married a year later. i am currently seperated and have moved back into my condo. i am caring for an ill parent and a mentally ill sibling (who do not reside with me). all of my bills are current including mortgage and i've never been late on any of my accounts.
i have a first mortgage and second mortgage (line of credit). i've been using my credit cards for living expenses and am now at the point where i need to act fast and decide how to get out from paying such a high mortgage.
if i follow through with a deed in lieu of foreclosure, will i be responsible for the difference if the unit sells for less than my mortgage? any advice would be appreciated.
i purchased a condo 2 years ago. i was married a year later. i am currently seperated and have moved back into my condo. i am caring for an ill parent and a mentally ill sibling (who do not reside with me). all of my bills are current including mortgage and i've never been late on any of my accounts.
i have a first mortgage and second mortgage (line of credit). i've been using my credit cards for living expenses and am now at the point where i need to act fast and decide how to get out from paying such a high mortgage.
if i follow through with a deed in lieu of foreclosure, will i be responsible for the difference if the unit sells for less than my mortgage? any advice would be appreciated.