Brenda H. asked
I purchased my townhouse in Georgia in 2007 with a mortgage of $117,500. Payments, including taxes and insurance, are $875 per month under a 30-year fixed rate mortgage. I am currently up-to-date on the mortgage, but I also have a small credit card debt ($1,500) and a school loan ($13,000). Other townhouses in my development, all newer than mine, are listed for sale at $82,900 and have been on the market for over two years. I have just lost my job and can no longer afford the house payment. I will most likely have to relocate to pursue a job in my field. What should I do with my house? Should I consider a strategic default, foreclosure, bankruptcy, or a short sale? Thank you for your assistance.
March 7th, 2024
Adam T. answered
Given your situation, bankruptcy should be your absolute last option. Here are the steps you should ...
March 7th, 2024
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