There are many ways of trying to get out of paying a debt. One of those debts is a home mortgage. Many people are struggling these days to pay their mortgage due to higher payment amounts due to rate increases, or loss of income, divorce, medical bills, etc.
But I came across one individual that thought she would just eat her house and then since there would no longer be a house, then of course there would be no longer a mortgage, right?
I'm thinking that it's not that easy. Eating this gingerbread house might make Ciara's imaginary debt go away, but once she's done with it she'll have the worst stomach ache EVER!
The situation that many people are in today with deciding whether to just walk away from their real mortgage and let the bank foreclose, or to perhaps talk to a Realtor like me and see if trying to do a Short Sale is enough to cause anyone to have a stomach ache as well.
I always recommend that everyone talk to a Certified Public Accountant (if you're in the Stockton, CA area the best is Peter Holtz) or to a real estate attorney, or both.
As a real estate professional I do not give legal advice, nor do I sell home loans. I sell homes for sellers and find great deals for home buyers in the central valley of CA, mainly in the Lodi and Stockton areas.
Bottom line, as a homeowner you have options if you are upside down with your mortgage. Whatever you do, don't resort to eating your house. Be sure and seek out the advice from the professionals and make sure that you open all mail pertaining to your home, and save everything that you get in one place for easy access.
I hope you all have a Happy Holiday Season!