Separated Under one roof
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Separated Under one roof
| Thu, 01-24-2008 - 7:23pm |
Hi,
I have a question regarding living situations after discussing separation.
| Thu, 01-24-2008 - 7:23pm |
Hi,
I have a question regarding living situations after discussing separation.
I'm currently in this situation.
DITTO...
Although I am telling H tonight its over, and I would like to stay in the house together until the market improves...
He drives truck, so I think it will be ok for now.
The house is upside down also, and i talked to the morgage co just today about what ifs...
they told me this:
1) foeclosure....start proceedings after 120 days late, late fees, lawyer fees and all the costs, PLUS the late payments themselves will be due upon foreclosure...
2) Loan Restructure...you can apply for this by telling them your income and expenses and they will offer you a lower interest rate...
3) Sell Short....the difference, the loss amt, the bank will eat, BUT you will get a 1099 in the mail and have to claim that loss as income on the next tax period, AND your credit with have a 'settled' amount on your report for 3 years.
SO< that was informational for me, thought I could share.
Thank you so much for that info, being!
I am glad it looks like there are other financial options other than bankruptcy or foreclosure.
Hi, I have some experience with the living together, but separated plan.
I had