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/u/herbnhero
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My house has been on the market for right around 120 days with little interest. One offer I got backed out days before closing and it’s been pretty low action since then. It appraised for asking at that time, yet I’ve lowered the price by roughly 10% since.
I cannot afford the mortgage. I’m officially behind 2 payments now and the house has been vacant for about 4 months. I’m wondering if it’s possible to ask the mortgage company to foreclose on it immediately. I owe about 20k less than it’s worth so I’m not gonna get beat up too much there. And I do not need a mortgage, car loan etc for the foreseeable future.
My concern is if I tell the mortgage co. I cannot and will not be paying the mortgage, will they just foreclose or will they sue me, etc? What are the implications? I’ve already decided against filing chpt 13 bc I don’t need or want the house and I don’t stand to make any money on the sale.
submitted by /u/herbnhero
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Request foreclosure? Pennsylvania
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I cannot afford the mortgage. I’m officially behind 2 payments now and the house has been vacant for about 4 months. I’m wondering if it’s possible to ask the mortgage company to foreclose on it immediately. I owe about 20k less than it’s worth so I’m not gonna get beat up too much there. And I do not need a mortgage, car loan etc for the foreseeable future.
My concern is if I tell the mortgage co. I cannot and will not be paying the mortgage, will they just foreclose or will they sue me, etc? What are the implications? I’ve already decided against filing chpt 13 bc I don’t need or want the house and I don’t stand to make any money on the sale.
submitted by /u/herbnhero
[link] [comments]
Request foreclosure? Pennsylvania
Continue reading...