Give Up The Home

You’re sick of all your home problems. You just want to move out. Walk away. Let the foreclosure and sale of the house proceed. 

Let’s look at some alternatives to this: (a) fight the foreclosure in court (see above) (b) arrange a “short sale”—you sell your house before it is auctioned in a foreclosure, almost always for an amount that “falls short” of what you owe on it—the bank agrees to take the sales proceeds as payoff of the loan—this way you are relieved of paying the excess of the loan over the  sales proceeds—also, you avoid the foreclosure on your credit rating. (c) give the bank a “Deed In Lieu of Foreclosure”—persuade the Bank to let you sign over the deed in exchange for cancellation of your debt—again you avoid the foreclosure on your credit--but you may owe taxes to the IRS. 

There are advantages and disadvantages to all of the above and one or more could backfire. Please don’t do any of this without legal advice. Some of these suggestions could be harmful, depending on the facts of your case. Please find a lawyer who knows about foreclosures. I can help. Call me on my cell now. I am a lawyer and I give advice on Bankruptcy and Foreclosures in Louisville, Kentucky and Southern Indiana. CALL ME ON MY CELL NOW. I WILL PERSONALLY PICK UP OR CALL YOU BACK WITHIN 20 MINUTES. TEST ME! 502.592.9771.