possible foreclosure immenient

Posted by Mel on October 03, 2002 at 13:37:14:

I own 2 homes in Texas and have been trying to sell one of the for the past year. We have had several contracts that have fallen through due to various reasons most on the buyers side. We even had one where it was a cash buy, but the buyer backed out after the option period was past and legally they were liable to purchase it but with 2 payments we can't afford to pursue it.
We are having a difficult time making the payments on the home we are trying to sell and at this time are considering letting it be foreclosed on but don't know what all this will entail other than ruining our credit. Can you give me any advise?

Follow Ups:

• Re: possible foreclosure immenient - dw 10:55:43 10/06/02 (0)
• Options... (url) - Reinstatement Services, Inc. 15:26:20 10/03/02 (0)

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: I own 2 homes in Texas and have been trying to sell one of the for the past year.  We have had several contracts that have fallen through due to various reasons most on the buyers side.  We even had one where it was a cash buy, but the buyer backed out after the option period was past and legally they were liable to purchase it but with 2 payments we can't afford to pursue it.  
: We are having a difficult time making the payments on the home we are trying to sell and at this time are considering letting it be foreclosed on but don't know what all this will entail other than ruining our credit. Can you give me any advise?


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