Posted on: 31st Dec, 2010 09:21 am
My husband lost his job and has had no income for the past 6months not even unemployment. We were living check to check before, but now we are just scraping by and havent paid the mortgage in 6 months. They house has just been referred to forclosure i was told. My husband and I are debating a divorce and neither of us are interesting in keeping the house past May & it needs a lot of work to try and sale it. I want to know if I should go through the motions of some type of loan counseling like a short sale. I also wondered about another bankruptcy or just let the house go into forclosure. We a bankruptcy help me? & If they foreclose on the house would I have to pay anyone anything back for the foreclosure because Im not sure how it works.
hi guest!
welcome to forums!
rather than filing bankruptcy or foreclosure, you should consider the option of deed in lieu of foreclosure. this will not only help you in getting rid of the property, but you won't be liable for paying off the deficient balance resulting from the sale of the property.
feel free to ask if you've further queries.
sussane
welcome to forums!
rather than filing bankruptcy or foreclosure, you should consider the option of deed in lieu of foreclosure. this will not only help you in getting rid of the property, but you won't be liable for paying off the deficient balance resulting from the sale of the property.
feel free to ask if you've further queries.
sussane