Re: considering walking away in AZ
Posted by Jane on September 26, 2008 at 09:57:30:
In Reply to: considering walking away in AZ
Posted by Gregg on September 25, 2008 at 08:09:25:
http://www.azleg.state.az.us/ArizonaRevisedStatutes.asp?Title=33
> No Defeciency Judgment if property less than 2.5 Acr.
> Explain to your lender that you are struggling, you need to prove out that you don't have money to pay !!!
> List the house, sell with lost if can, short sell but see 1099a & 1099c tax implications.
> Walk away if you can't sell, but prepare yourself first (3months income and assets verification)..don't destroy your family future over credit score...it will comeback up within several years.
Good luck...it is not bad as it sounds...I went through this 2 years ago...nothing worth the stress...
Good luck
Jane...
Follow Ups:
- Re: considering walking away in AZ - Kyle 13:38:58 10/13/08
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