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I'm seeing that the banks would rather have someone in the home taking care of things till a decision is made on the property,In our business i know a few that are in this mess.
If you are even close to your limit,almost under water,I would quit paying everything but the utilities.
Bank everything you can first.It will take at least a year before the sheriff's sale.
I said it before,they just don't have the man power to come get everyone's house or car
If you are even close to your limit,almost under water,I would quit paying everything but the utilities.
Bank everything you can first.It will take at least a year before the sheriff's sale.
Correction.
The sheriffs duties are only to "serve eviction papers" on a resident based on a court order.
The sheriff has nothing to do with a sale. As a matter of fact, the sheriff is under no time frame upon which to serve the eviction notice after receiving orders from the court.
Stay in your house! Do not move out! You will be held responsible for any deficiencies owed and the banks can come after you for them.
Be well,
Will
Correction.
The sheriffs duties are only to "serve eviction papers" on a resident based on a court order.
The sheriff has nothing to do with a sale. As a matter of fact, the sheriff is under no time frame upon which to serve the eviction notice after receiving orders from the court.
Stay in your house! Do not move out! You will be held responsible for any deficiencies owed and the banks can come after you for them.
Be well,
Will
An academic came to the same conclusion perhaps 18 months ago. He was chastised for promoting "unethical" behavior, but he reminded everyone that businesses of all sizes regularly declare bankruptcy and walk away from their debt.
This is going to get uglier...
Peter
Anyone remember Fight Club....
I just broke rule #1...
No sympathy.. none what so ever.
it's too hard to sift through the ones who hit the end with a sudden stop vs the ones who entered into contracts on homes that were waaayyyy above their means, not to mention not worth what they were buying them for.
I remember very clearly that about 6 years ago I had two people whom I trusted very much imform my wife and I that we would be stupid to not buy a house because values are going up and show no signs of stopping... Sure glad I didn't listen to them. This way I have saved my down payment that I would have lost and not had to be one of the ones who had their rates jacked sky high. (not so good credit).. I'll do it on my terms, when I'm ready. I'll be sure as bubblegum that I'll be buying on a solid foundation.