Colorado, don't know what to do

Posted by T on October 20, 2006 at 10:38:35:

Fiance & I of 5 years, bought a home a little over a year ago together. We seperated on good terms about a month ago and now don't know what to do with the house. Called Realtor & not only is market bad where we live, but neighbors are foreclosing bringing down vaulue even more. We are considering foreclosure, but are affraid the mortgage company will go after us when all is said and done for the difference. I know they can in Colorado, but is it common? Also, foreclosure is seperate from bankrupcy or do they come hand-in-hand? Any advice? We BOTH still live there since we can't afford mortgage and an appartment, and while we still get along, this isn't healthy.

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: Fiance & I of 5 years, bought a home a little over a year ago together. We seperated on good terms about a month ago and now don't know what to do with the house. Called Realtor & not only is market bad where we live, but neighbors are foreclosing bringing down vaulue even more. We are considering foreclosure, but are affraid the mortgage company will go after us when all is said and done for the difference. I know they can in Colorado, but is it common? Also, foreclosure is seperate from bankrupcy or do they come hand-in-hand? Any advice? We BOTH still live there since we can't afford mortgage and an appartment, and while we still get along, this isn't healthy.