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    y_angel's Avatar
    y_angel Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Aug 18, 2007, 09:47 AM
    What to do Foreclosure?
    I live in NV, My home is going to more than likely go into foreclosure.
    I owe more thatn the house is worth.Property Values are going down and I am in a Negative Amortization loan w/a PPP.

    Can the bank Sue me or go after me for the difference in the balance?
    Would it be better to file Bankruptcy?
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Aug 18, 2007, 10:08 AM
    Hello y:

    Ask the bank if they'll do a short sale. That way you can sell the house and the bank will take (or share) the loss with you.

    excon
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