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3 years ago
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We are considering walking away from a house we bought 4 years ago because we are SO FAR underwater. How easy will it be for us to find a place to rent or even buy? We are considering another state.

I've been with the same company for over 10 years and am pursuing an opportunity out of state. My husband has been unemployed for over a year now and cannot find work where we currently live. There seem to be MANY opportunities in the city I'd like to head to. Our credit history has been outstanding up to this point. Any positive thoughts or helpful advice is GREATLY appreciated!!!
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3 years ago
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I am not legal counsel or lawyer to give you advice but I think you should walk away. Let the bank foreclosure your house and save some money and start all over again. I know many super rich people purchased/built their home/mansion during the RE peak but when the RE collapsed; they walk away even though they could pay for that because the value of their homes less than what they owe. Do you know how many Donald Trump disclared bankruptcies? He is rich. Many people found the best way to walk away. Why struggle and end up have the banks foreclosure your home at last. Save some money now buy a new place because your credit scores have already been ruined. Banks will not lend you any more. So you can have enough money when the sheriff asks you out. Good luck
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3 years ago
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Are you considering allowing it to go into Foreclosure? If you would like to walk away from your home, sell it don't let it go into foreclosure if you don't have to!! Even if you have outstanding credit, it will destroy your credit with a foreclosure

However, if you can sell your house, even for a little less than what you were hoping for, it sounds like you have a great opportunity to start over in a whole new place!
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3 years ago
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I think you should should look into a couple programs they have to help you save your home. www.hud.gov and also www.fanniemae.com should help you be able to save it. The foreclosure will destroy your credit although you could claim bankruptcy and claim the home in it. http://www.usatoday.com/money/economy/housing/2010-03-25-underwater25_ST_N.htm
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