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twsted1too · Joined: 09 Mar 2010 Posts: 2 1.72 Dollars($)

My fiancee has a condo in IL which he is current, but soon will no longer be able to afford. He is currently on unemployment which will run out in June '10, and at that time he will no longer be able to pay on the property. There is only one mortgage on the condo. We no longer live in the condo, because my job was transferred out of state. Our new residence is in my name only. We have never filed joint tax returns. What is the best way to get out of this IL loan, and not have to pay any taxes or penalties, or take huge hits on his credit report? If he does take a hit on his credit, how bad and how long to repair? Who do I need to consult to put into action the suggestions made? Will still be responsible for HOAs?
Thanks in advance.

jameshogg · Posted: Tue Mar 09, 2010 8:12 pm Post subject:

Hi twsted1too,

Your query has been replied to in the given page:
http://www.mortgagefit.com/illinois/homeloan-condo.html#154438

Take a look at it. Hope it helps you.

Thanks

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