A disability put me in a position that will no longer allow to make my mortgage payment by a wide margin. How can I give up the house with the least amount of trouble?
Answer
There is no simple way to give up the house. You will need to negotiate with the mortgage company. If you let the bank foreclose, you may be losing an opportunity to achieve a final settlement on the house as foreclosures do not settle the debt but merely give the bank an opportunity to recoup some loss and then come after you for the remainder in the future. If you would like to call me to discuss the matter, please email me via my website, www.LawRefs.com or directly at [email protected]/* */ and I will provide additional contact information.
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