I have a tenate who walked out on me and I don’t have the cash flow to maintain the mortgage. I’m thinking of letting it get foreclosed on. What is it I can expect in a foreclosure?
Sorry about your situation. Try not to get your house foreclosed on…the best thing is to either refinance or have a quick sale, so you could save your credit. Foreclosure will affect your credit.
[i][b]"It must be a terrible thing for a man to have never to have suffered physical pain.
You say, ‘I should like to be that man.’ Ah, unless you had extraordinary grace, you would grow hard and cold; you would get to be a sort of cast iron man, breaking other people with your touch.
No, let my heart be tender, even be soft, if it must be softened by pain, for I would know how to bind up my fellow’s wound.
Let my eye have a tear ready for my brother’s sorrows, even if in order to that, I should have to shed ten thousand for my own.
As escape from suffering would be escape from the power to sympathize, and that were to be deprecated beyond all things."[/b][/i]
You may be facing insecurity, fear, anxiety, anger, and, of course, depression.
These feelings also cause people to make poor money management decisions.
These poor decisions can lead to heavy debt loads, and start a vicious cycle of fear, anxiety, and panic that never seems to end.
Sounds like you are having feelings of helplessness and hopelessness and I know they are so overwhelming for you
Your situation is not hopeless.
With just a little you can overcome this foreclosure.
There are strategies you can use like:
Straight Sale
Sale by assumption
Foreclosure Presale
Compromise Sale
Shortpayoff
Deed in Lieu
Workouts
Forbearance
Modifications
Assignment
Sale/Leaseback or Deedback
Hard Bargaining
Injunctions
Bankruptcy
Post some details and let’s see what can be done.