PLEASE HELP;NEED ADVICE!!! TEXAS

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Posted by sally on May 26, 2003 at 23:30:36:

I live in Texas and my husband and I bought a mobile home about a year ago. Our home is in a mobile home park. We have decided to let the home go and let the lender foreclose. We are currently two payments behind and have already set up a payment plan w/the lender, but I don't want to send anymore money to them if we are going to let the home go. We have been struggling to pay our mortgage, but it's simply not worth all the stress we're having to endure. We have "absolutely no interest" in keeping the home. I am a student working part time and my husband's hours have been cut back severely. If our home goes into foreclosure will there be a law suit filed against us, and if so will we be obligated to pay any kind of fees or show up in court? I do not want to file for bankruptcy and I understand the foreclosure will stay on my credit for 7-10 years. Will the lender keep trying to contact us in order to collect money owed? We are both young and have no interest whatsoever in buying a house within the next 10 years. Any info would be greatly appreciated. Thanks in advance

Follow Ups:

• TEXAS - Mike - Texas 19:51:38 05/29/03 (0)

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: I live in Texas and my husband and I bought a mobile home about a year ago. Our home is in a mobile home park. We have decided to let the home go and let the lender foreclose.  We are currently two payments behind and have already set up a payment plan w/the lender, but I don't want to send anymore money to them if we are going to let the home go. We have been struggling to pay our mortgage, but it's simply not worth all the stress we're having to endure.  We have "absolutely no interest" in keeping the home. I am a student working part time and my husband's hours have been cut back severely. If our home goes into foreclosure will there be a law suit filed against us, and if so will we be obligated to pay any kind of fees or show up in court?  I do not want to file for bankruptcy and I understand the foreclosure will stay on my credit for 7-10 years. Will the lender keep trying to contact us in order to collect money owed?  We are both young and have no interest whatsoever in buying a house within the next 10 years.  Any info would be greatly appreciated. Thanks in advance








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