Results 1 to 2 of 2
LinkBack URL
About LinkBacks-
09-10-2011, 01:02 AM #1
Fixer Upper
- Join Date
- Oct 2009
- Posts
- 32
Short Sale or forclosure
My family has moved to an appt in Idaho and we are renting our first home for $800 a month which resides in Washington. The refinanced payment is ~$1300 a month and is causing us quite an offset out of pocket. We're looking into short saling or foreclosing due to being underwater ~10% LTV. Can a bank attack our assets if we do this? For example a newer home we're in now? Or our 401ks?
Any suggestions or feedback is appreciated, thanks.
-
09-13-2011, 09:58 AM #2
Moderator
- Join Date
- Sep 2007
- Location
- Outer Banks
- Posts
- 1,282
In some states they can wait for 10 years and come after when when you get back on your feet. You need to check the laws for Washington.
Your Outer Banks real estate agent. Learn how to buy Outer Banks foreclosures.
Reply With Quote
Bookmarks