Explore Your Options Before You Hand The Bank Your Key
Question: We are in trouble like so many people that you hear about. Things in our lives are upside down and I do not think think we will be able to continue to make our mortgage payments. I am lost. I guess from what I read and see on the television, the smart thing to do is just walk away from the house and let the bank have it. I feel horrible but do not know what else to do. I would appreciate any suggestions and help you might offer. HT
Answer: I am sorry that you are having such a difficult time. Before you walk away from your house, I would suggest that you call your lender and have a frank and forthright conversation about your situation. The lender is truly not interested in managing and then selling your property. If they do, there is a good chance that they will lose money in the foreclosure process. It is definitely worth your effort to see if something else can be worked out to enable you to keep your property. If you are too uncomfortable to make that call, I would definitely talk to someone who can help you make that contact. DO NOT JUST WALK AWAY… it truly is worth the effort to explore the options that are available to you. Good luck in the process. RS
