What are my options or what can i do?

Asked about 1 year ago - Riverside, CA

I bought two lost in outside of san antonio,texas. the purchase prices were 25k and 45k. i have been making payments from 2007-2011. on time. I have no employment at this time i getting close of losing my house which is underwater, my credit took a dump from 815 to 450. the lots are worth 2k and 8k. At this moment. I asked the lender if i can short sell them, he said 'no" , Iaked him if he can take them back he said "no". I told him that i have a buyer at the going value they said i have to pay the difference. what did i get into? what can i do?

Attorney answers (2)

  1. Nicholas Basil Spirtos

    Contributor Level 20

    Answered . You probably should talk to a bankruptcy attorney. Use the find a lawyer link to find one in your area.

  2. Susan Jane Salehi

    Contributor Level 9

    Answered . You should check with an attorney in Texas to verify that there would not be a deficiency judgment for which you would be responsible if these two properties were forclosure upon. If there is no liability after foreclosure, then that could be the best decision for you to make under the circumstances. You may also want to meet with an experienced bankruptcy attorney to try to find a way to keep your house before is too late.

    Nothing in this response should be construed as legal advice, or establishing an attorney-client relationship.

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