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Answers (4)
- Joy Bender, "JoyBenderLuxuryAgent"
- Contributions:2
I strongly suggest you consider short sale. I repeatedly am seeing clients that are looking to purchase again after 3 years has passed after foreclosure. Once their lender pulls credit they the 2nd mortgage still shows owed and now is in collections. You have 3 options if you ever want to obtain mortgage financing again.
A) Hire an attorney to see if he can get it removed
B) Pay it
C) File bankruptcy
A) Hire an attorney to see if he can get it removed
B) Pay it
C) File bankruptcy
- Rochelle Mezzano, "RochelleMezzano"
- Contributions:242
Dear David, I'm so sorry to hear that you might be considering walking away. There is so much help out there that is available for free. Getting a loan modification isn't easy, but perhaps you need better qualified help? Sometimes an escalation can help get a loan modification quicker. I don't know too many people who have walked away, simply because the loan modifications and short sales are such a better alternative. It's probably too late, but good luck.
- Ricky Beach, "rickybeach"
- Contributions:46
You really need to talk to an attorney and CPA. Nevada is a deficiency judgment state. Meaning they can come after you for more money after the foreclosure. A short sale may be able to wipe the deficiency out but always check with an attorney as each situation is different.
- wetdawgs
- Contributions:26784
Take some time to chat with an attorney to get some guidance on your unique situation.
Have you considered a short sale rather than walking away?
Have you considered a short sale rather than walking away?
walking-advice
i would like to hear from people that have walked away,leaving thier homes,after being denied loan-modafication help,how did they start and how did they finish,thanks.
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