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Foreclosure?

Posted by Jessica on March 27, 2007 at 23:18:10:

Hi, new to this board, my husband and I are getting divorced and unfortunaly we have a home that we can't sell (the market is flat and saturated in our area) and I dont see us being able to sell at a break-even point within one year. I say a year because that is a long as I can afford to be paying into this house. I haven't missed payments yet but if in a year the market doesnt approve (and the payment goes up) what is my next option? Obviously I do not want to foreclose (the property is in my name only), how does forebearance work and for how long can it last?

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