Ask Experts Questions for FREE Help !
Ask
    Carol4290's Avatar
    Carol4290 Posts: 1, Reputation: 1
    New Member
     
    #1

    May 21, 2007, 05:38 PM
    Relocation and foreclosure
    I have to relocate for work out of state I have ahouse that will not sell. I can't pay the mortgage here and afford to pay rent in the new area. I am so afraid of renting. I'm out of state and what if they don't pay the rent? There is another name on the deed but not on the loan? Is that person responsible for anything? What happens if I just stop paying the mortgage and let it go back to the bank?
    WTFO's Avatar
    WTFO Posts: 21, Reputation: 4
    New Member
     
    #2

    May 21, 2007, 07:38 PM
    Do Everything in your power to NOT let this go into foreclosure!!
    Your credit rating will be Trashed! And there is a chance that the lender will come after anyone listed on the Deed - they probably wouldn't prevail since that person never signed a loan document - but Banks will try anything.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Foreclosure [ 10 Answers ]

Hi: I have an apartment in Miami and I can not make payments anymore, I refinanced it sometime ago to afford making the payments but I run out of money and I have no job or income of any kind. If the bank foreclosure the apartment are they going after me for money if they sell the apartment for...

Foreclosure complaint [ 1 Answers ]

I was handed a foreclosure complaint I have 28 days to answer the complaint can you tell me how to answer this I've never done it and don't know what to do. Thank you michelle

Mortgage / foreclosure [ 2 Answers ]

If my house is leaning towards a foreclosure (3 months behind in payments) can I put the house on the open market?

Dispute Atty Fees for Foreclosure [ 1 Answers ]

Do attorneys have to validate their attorney when they list them on the reinstatment? The reinstatement letter simply says "attorney fees, costs, estimated foreclosure. We are current on the mtg. payments. Is their any recourse against the atty.

Foreclosure on mortgage [ 2 Answers ]

My Mother has sold her House, and carried the mortgage Herself. I have Power of attorney over Her, and She is now unable to handle her Finances. The mortgage payment is over a month overdue. I sent the buyer A certified letter,letting Her know that I was handeling Mother's finances At this...


View more questions Search