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Posted by LeeZ on May 24, 2007 at 15:28:02:
In Reply to: Options abound posted by RSI on May 24, 2007 at 14:34:52:
It appears, from what I have read, and heard that the 2nd mortgage can come after me for a deficiency? I would be surprised if there was much or any deficiency as this is a great house in a great neighborhood, but in this market who can tell anymore.
We are in the Rocklin/Roseville area.
The rental market is strange...i really wish we would have rented at this point...LOL. We thought about renting, but it appears we would have to rent for about half of what the mortgage is, so it would just slow down the bleeding, but would do us little good. Since that is the case I would rather try to sell without renters in it, then to deal with that as well. I would still be upside down every month even if it were rented out.
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