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Walking Away from the House

Posted on December 9, 2008 Written by

Cathy Moran, my blogging colleague on the Mortgage Law Network, discusses whether you should prevent foreclosure and keep the house.  Walking away from the house is one solution for a homeowner who can’t afford to repay the mortgage loan balance and the house is worth at least as much as you owe.  A deficiency judgment, if one is taken in the foreclosure, can be discharged in bankruptcy.  Here is a pay or go calculator to help you assess whether you should walk away from your mortgage.

Filed Under: Discharge, Filing Bankruptcy, Foreclosure, Mortgages Tagged: , , , , , , , , ,
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