House Foreclosing
Date: Fri, 09/07/2007 - 15:25
Submitted by The I See You Member
on
Fri, 09/07/2007 - 15:25
Total Replies: 4
The answer to both the questions is Yes. It's a negative remark
The answer to both the questions is Yes. It's a negative remark on the credit file for seven years. Even after the personal property is auctioned, you are liable to pay the outstanding balance after the sale. The debt turns out to be unsecured and hence SOL will apply.
Yes, it is the same. The mortgage company can come after you fo
Yes, it is the same. The mortgage company can come after you for the balance owed if the house does not sell for the amount you owed. Which in these days, is a very real possibility.
I predicted this trend several years ago, when sub-prime and "in
I predicted this trend several years ago, when sub-prime and "interest only" mortgages were all the rage in California. We're only just now seeing the tip of the iceberg unfortunately.
I think so too. I think this is just the beginning of a very bad
I think so too. I think this is just the beginning of a very bad time. My husband and I have decided that no matter what we cannot pay, the mortgage will get paid. First, every month.
