---

foreclosure

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
dionne Guest	Posted: Sun Sep 12, 2010 4:04 pm    Post subject: foreclosure Like 0 Dislike 0 I recently got married and we moved into my husbands home. I rented my home, this is becoming a hassle and the tenant is no longer able to pay, i was having to add to his payment every month to make the payment also. I owe more than it is worth. I am considering letting the house go into foreclosure. What are the repercussions? I live in georgia, Can they come after my bank accounts, anything in my husbands name, the home we live in, deficieny judgements? What should I do _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Sun Sep 12, 2010 8:58 pm    Post subject: Like 0 Dislike 0 Welcome dionne, As you're unable to pay the mortgage payments, the lender will foreclose the property. After a foreclosure, if he is unable to recover the whole balance, he will sue you for the debt. He can file a lawsuit and get a judgment to place a lien on your other properties or your checking accounts. In my opinion, it will be a better option if you could contact your lender and apply for a deed in lieu of foreclosure. You won't be liable for the deficient balance from the sale of the property as it would be forgiven by the lender. _________________ Procrastination is the enemy of your financial success

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0