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Company Loan Type APR Est. Pmt.

Not paying mortgage

Posted on: 29th Jul, 2009 08:39 am
Like many people my house aint worth what I paid for it. And I will be leaving the country in a few months. So heres a few questions

If I stop paying the mortgage how long before I get kicked out?
What come back will there be? I have the money to pay just dont want to.
When I'm ready to leave the country whats the best way to let the bank know, just call them and tell em the keys under the mat??

Thx
it depends on you state. Which state are you in? Are you coming back or not? I mean are you leaving this country forever?
Posted on: 29th Jul, 2009 10:11 am
the best way to let people know what you're doing is to do it directly. you can call them, you can send a letter, you can send an email, you can visit them personally, you can have a friend or acquaintance drop by and let them know, you can not tell them until they try to contact you and then choose to get back to them when it's convenient.

of course, if you are leaving the country (does that mean you're going to the city?), you'll be a bit more difficult to contact.
Posted on: 29th Jul, 2009 10:32 am
I'm in Virginia and yes I'm leaving the country (that's the USA) I will never be resident again but will visit for vacation and business....I just reckon if i dont pay the mortgage for 4-5 months that would pay for my relocation to foriegn lands..just have to make it last 4-5 months....
Posted on: 30th Jul, 2009 11:52 am
i reckon that'll do the trick, too...lenders are not that quick on the draw that you'd be forced out so fast.
Posted on: 30th Jul, 2009 12:00 pm
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