Foreclosure after in 13-Should I?
I have been in 13 for 11 months now. Not easy. I owe over $400k on the house with 1st of $325k and 2nd of $90k. I owe IRS $40k and had CC/unsecured of $125k. Plan is to pay for past due house payments, IRS, and maybe something to CC but not 100%. Initially, I wanted to keep the house, but just found out that two on my same street and my same floor plan are for sale at $187K and $195k!!! This puts me almost $250k upside down. I can rent a place for a third of my house payment, and right now want to just start fresh. My question is what happens to my plan? and what happens when the house payment is not made, do they come after me for the amount that is upside down?
I know once I move out there is no turning back, so scared to move, but fed up and tired of being broke while paying for a house that will never have any equity.
Thanks for your help.
I know once I move out there is no turning back, so scared to move, but fed up and tired of being broke while paying for a house that will never have any equity.
Thanks for your help.