Foreclosure vs. bankruptcy?
Posted by Rob on September 17, 2003 at 10:27:15:A friend in Denver bought a home with her fiance (both signed the note). They have since split up, and both moved out of the house. He recently declared personal bankruptcy, and mortgage payments have not been made for several months. There is no way she can afford the payments on her own, and doesn't want the house anyway. The obvious answer is to sell, but they are heavily "upside down" and a sale wouldn't bring nearly enough to pay off the mortgage.
What should she do? I'd love to see her avoid bankruptcy. She has a steady job, lives in an apartment now, and pays all her other bills regularly.. it's only this house that's a problem.
ANY advice welcomed...!
Thanks, Rob
- Re: Foreclosure vs. bankruptcy? - Beth 08:40:14 10/22/03
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- Petition Lender for Short Sale Approval [nt] - Reinstatement Services, Inc. 11:17:31 09/17/03
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