Posted on: 08th Dec, 2008 04:46 pm
My house I live in is very upside down... over $800K underwater., I have tried to negotiate a modification but the bank wont do anything. So I am considering a short sale. But if I do that will they come after another home I own in another state. That home has only a little bit if any equity but I want to keep it. I am considering quit claiming it to my son to protect it.
Hi Sussane
The bank won't consider a modification because I am still current but I am borrowing money from credit lines since my business failed. I was advised that if the home is your primary residence in Calif and you short sell there is no defficiency judtment? Is that true?
The bank won't consider a modification because I am still current but I am borrowing money from credit lines since my business failed. I was advised that if the home is your primary residence in Calif and you short sell there is no defficiency judtment? Is that true?