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Re: second mortgage - need advise


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Posted by WHY CHAT (12.94.46.83) on July 26, 2003 at 11:04:22:

In Reply to: Re: second mortgage - need advise posted by anon-pa on July 26, 2003 at 00:04:24:

There is no such thing as "turning the house over to the bank".

It MAY be possible to get a stay on your foreclosure IF you or the bank can find another buyer who qualifies, or with whom the bank is willing to enter into a lease option arrangement with. However, unless the new buyer qualifies for their own loan,you are still at risk.

See a BK lawyer, even if the house IS foreclosed, you would at least be spared the risk of a deficiency judgment.


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