ANSWERS: 5
  • you definately cant abandon your home especially if it is a written agreement, you can be sued and pay money out the butt. so i wouldnt reccomend doing that. you can move and still send payments to them by mail you dont have to live in the home just pay it off and your free.
  • I would try and find someone to assume the payments or sell it outright, abandoning the property does not mean you are no longer responsible. You signed a contract so you can and probably will be sued, and it will damage your credit much more than a bankrupcy will.
  • In most states you cannot abandon real property at all. This is true even if you own it outright. If you want to get rid of real property, you must convey it to somebody. You can sell the property and pay off the mortgage. Of course, I am guessing that your mortgage is more than the property value, otherwise you would have chosen this option.
  • To be flippant: You can run away, but you can't hide. Even if you do abandon your house, you will still be obligated to pay the mortgage, and what ever other expenses are related (taxes, etc.). I think you should get in touch with the lawyer who handled your bankruptcy and ask for help. Also, be sure to contact the mortgage company and ask them what they can offer you. Many are trying to help people now.
  • Where In North Carolina? I might be interested to buy it from you. allcreditsolution2@yahoo.com

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