foreclosure in TX....what to expect??

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Posted by RG on February 28, 2005 at 19:19:28:

i have a home that will probably go into foreclossure soon...had it for two years, divorcing and now cant afford it.....difference between what i owe and the Fair Market Value is about 5K (I think, at least what the houses int the area are selling for)....house is a starter house less than 90k area, not huge...I dont want the house....if it goes into foreclosure what do you all think the bottom line will be in terms of money I'll owe if i cant get the mortgage balance...i understand its only an opinion...also ive heard or read that the appraisal value for the mortgage has something to do with any deficiency judgements, is that true??.....thanks

Follow Ups:

• Re: foreclosure in TX....what to expect?? - Bill H 19:59:23 02/28/05 (0)
• Re: foreclosure in TX....what to expect?? - Ray 19:45:46 02/28/05 (0)

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: i have a home that will probably go into foreclossure soon...had it for two years, divorcing and now cant afford it.....difference between what i owe and the Fair Market Value is about 5K (I think, at least what the houses int the area are selling for)....house is a starter house less than 90k area, not huge...I dont want the house....if it goes into foreclosure what do you all think the bottom line will be in terms of money I'll owe if i cant get the mortgage balance...i understand its only an opinion...also ive heard or read that the appraisal value for the mortgage has something to do with any deficiency judgements, is that true??.....thanks


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