Hi. I had an investment property that I'd owned since 2004. On 10/3 of this year, it was put up for a foreclosure sale. The mortgage company plans on buying it back. I live in Ohio, so there is no reinstatement period. Prior to this happening, I'd tried several times - unsuccessfully - to set up and maintain a repayment agreement, but the payments were always more than I could handle. I contacted the mortgage company (HomEq services) to see if there was anything I could do at this stage. They said the process is now in the confirmation period, but directed me to first the asset management company and then their foreclosure attorney. Basically, I was given the run-around instead of information. My questions - is the mortgage company going to come after me for the difference between their sale price and the owed amount? Unfortunately, the property is in a horibale neighborhood in Columbus, Oh and I couldn't keep it rented (which is why I fell behind in payments); I'd gotten a precomp on the prop and it was worth an estimated $10-$15k - it's a duplex - I owe about $75k not including foreclosure fees. Also what are the tax implications for something like this?
