what are the repercussions of foreclosure?
Thursday, March 19th, 2009
russell b asked:
How bad would it be on my credit and life to just let the house foreclose. How long can I stay before the bank throws me out? I’m spending every dime I make trying to keep up with an a.r.m. I cant refi cuz the market is dead and my house in las vegas is worth less than what i paid for it new only 2 years ago! My credit is shot now cuz I’m spending so much on the house. It jumped from $2,200 to $3,500 overnight. I also have other expences to keep up with such as 2 small children, food. power bill, insurance etc. I’ve already given up my car and every other luxury I could think of. The house is beautiful inside and out however it seems the nieghborhood is turning GHETTO! I want out, badly. Nothing is working and I’m just getting further behind. Beleave me, I work everyday, no vacations, no life. How bad will it be if I just gave up? I’ve paid alot into this house and won’t get anything back but it’ll stop the hemoraging of money Option One Mortgage is taking. Please HELP!
How bad would it be on my credit and life to just let the house foreclose. How long can I stay before the bank throws me out? I’m spending every dime I make trying to keep up with an a.r.m. I cant refi cuz the market is dead and my house in las vegas is worth less than what i paid for it new only 2 years ago! My credit is shot now cuz I’m spending so much on the house. It jumped from $2,200 to $3,500 overnight. I also have other expences to keep up with such as 2 small children, food. power bill, insurance etc. I’ve already given up my car and every other luxury I could think of. The house is beautiful inside and out however it seems the nieghborhood is turning GHETTO! I want out, badly. Nothing is working and I’m just getting further behind. Beleave me, I work everyday, no vacations, no life. How bad will it be if I just gave up? I’ve paid alot into this house and won’t get anything back but it’ll stop the hemoraging of money Option One Mortgage is taking. Please HELP!
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