We are on the second month of no payment on mortgage. We can no longer afford the house and don't know exactly hat is good for us at this moment. We do have savings, that's around $25K but we don't want to take out it out all. We are in an interest-only mortgage and cannot [url=http://www.mortgagefit.com/refinance.html]refinance[/url] even as the house is going for $45K less than what we owe. The only person who's on the loan is me. Can the mortgage company come after me when it forecloses as I am expecting a call any moment due to my delinquency? Can we avoid the lender coming after our savings? I thought I would put my savings into my husband's account but now that CA is community property, I doubt whether they'll go after my husband's account to take my money. If they do foreclose, how do I get to avoid it, I there any way I can save my credit from going down drastically?how long will I be able to stay in the property if they foreclose? Can they report the $25K savings to the IRS? What are the other implication of facing a foreclosure? Should I request for deed in lieu then/ will that be a better option or do you think there are other alternatives as well??