| Mortgage Forclosure The forum for everything related to Mortgage Forclosure |
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10-20-2008, 05:47 PM
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If I move out of my house will there be a...
...foreclosure even if I have mortgage insurance.? I have a reverse mortgage which has a mortgage insurance endorsement. If I move out because of the crime problem in the neighborhood will there be a foreclosure and will my credit be destroyed?I cannot sell the house as the value has halved recently.
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10-20-2008, 07:14 PM
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If you quit paying on the mortgage, then yes, they will foreclose and your credit will be screwed for a very long time.
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