AZ Home Foreclosure - Military - What should I do.
Date: Tue, 08/24/2010 - 12:39
Please delete, going to repost anonymously
Your post is unclear. What makes up the $100k in debt? Your H
Your post is unclear. What makes up the $100k in debt? Your HELOC plus credit cards?
You need to seek legal advice, but I think in Arizona you are not held personally liable on mortgages (HELOC's may be a different story though).
http://www.loansafe.org/forum/foreclosure-laws/4130-recourse-v-non-recourse-states.html
Banks are willing to settle debt on HELOC's for a fraction of the debt. You may be able to settle with USSA for 30%, which would be $21k. Any way you could come up with that amount of cash?
No need to file bankruptcy until or if they sue you.
