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Posted by lynn on January 01, 2007 at 15:34:04:
I have not been able to make a mortgage payment since Oct. due to my husbands illness. There is no chance of us refinancing, nor do we want to keep the house for several reasons. I asked the bank to do a "deed in leiu of foreclosure" (recomended by a realtor) and they did not want to. We live in fl. and the market is terrible right now. We could not sell the house for what we owe. None of the realtors I have called have wanted to list the house. It is a lovely house, needs no work, but we just have no equity, and can't sell it for what we owe. The bank says have it listed and present the highest offer to them. Yet, no one will list it!!!
I am to a point where I feel like let them do what they have to . I just am not sure of what is going to happen. How long before they "foreclose", will they put a sign up on the property? Will we have to pay back the difference of what they sell it for and what we owe? We also can't pay property taxes, do they come after us? any questions to any of this would be greatly appreciated, as I just don't know what to expect.
