Abandoning a home has consequences, and it impacts more than a credit score if the lender keeps trying to collect the loan. Read more.
Lake and Lodge Realty LLC - Big Rapids, MI
Real Estate Broker, Serving Big Rapids and West Central MI
Interesting read on an all to familiar topic. Yesterday I had an elderly lady call me to list a home. When I got there I found a 1977 singlewide on 4 acres that she owed $65K on. Someone had appraised it at $88K and there is no way it will see for over $40K (if you could find financing). She was faced with walking away or selling and selling probably is not going to happen in today's market. Her lender won't help because she is caught up on payments. All too common of a scenario. Thanks for the post.
Feb 25, 2010 06:02 PM
Rainmaker
634,520
634,520
Nick, Cindy & Nicholas Davis
CRS,CLHMS,ABR,GRI,CIAS,ALHS,e-PRO,CDPE,SFR
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