Re: Texas foreclosure
Posted by Ty on January 09, 2005 at 13:14:31:
In Reply to: Re: Texas foreclosure posted by Kim on January 09, 2005 at 06:24:57:
: : We currently have a house in Texas that we are trying to sell. It has been on the market for a while now and no offers. We have purchased a home in another state, we can not afford the payments on both houses. If we do not make the payments on the house in Texas what will happen? The house in Texas is in my husbands name only. Can they come after the house we live in now or our vehicles, ect.., what will happen to our/his credit, will it only affect his credit, because it is in his name?
Yes, it will only affect his credit. Why not sell it to a broker at a price less than the value of the home. Example.. if it is worth 100K.. sell it for 80K. Or just rent the home out to someone else... I have a friend looking to lease. They can pay 500/month if it is in Dallas County.
