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Old 04-01-2010, 03:22 PM
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Join Date: Apr 2010
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Default what are the consequences of intentionally
defaulting on a mortgage due to not being able to sell the property? Due to excessive foreclosures and association dues delinquencies in our community we are unable to sell our 2BR/2BA condo as a very interested buyer is unable to obtain financing. We are desperate to get out of this property as it is too small for our needs. Since our inability to sell the unit is a direct result of recent unethical Big Banking speculation practices, my question is what specifically would be the consequences of intentionally defaulting on the mortgage just to get out. Also, are there any programs which could help quicken repairing our credit histories as I'm sure by defaulting our credit scores will undoubtedly plummet. Thanks everyone!
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Old 04-01-2010, 05:57 PM
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Foreclosure. duh.
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Old 04-02-2010, 12:33 AM
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There has to be a better way. Can you rent it out?
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