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rabyjames Joined: 31 Mar 2010 Posts: 1 1.00 Dollars($)	Posted: Wed Mar 31, 2010 10:53 am    Post subject: default process Like 0 Dislike 0 I have a friend who has had some medical problems for the past year. She has had disability insurance and is current in her mortgage payment. My question is: Is there any means for her to "give back" her property to the lender and walk away from her mortgage and her lender not come back at a later date and proceed to garnish her future earnings? She is running out of her disability payments in June and she is sorely distressed about this. She is a Georgia resident. Thank you jim
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed Mar 31, 2010 10:41 pm    Post subject: Like 0 Dislike 0 Hi rabyjames! Welcome to forums! If she walks away from the property, then the lender will foreclose it which will have a negative affect on her credit and she would be responsible for paying the deficient balance resulting from the sale. I would suggest your friend to apply for a deed in lieu of foreclosure with her lender. Though this will have a negative affect on her credit, she won't be liable for the balance amount resulting after the sale of the property. Feel free to ask if you've further queries. Sussane

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