Just started the foreclosure process, what can I
expect to happen? I took out a neg. am. loan because of a low teaser interest rate and ended up owing more on the principal than what the house is worth. I tried to sell the home when the market took a dive and had the home listed for over 1 year, no buyers. Had 1 offer but the bank rejected it.The house has been vacant and we own another home thinking we would not have a problem selling the first. I just got the summons regarding all this and don't know what to do next. I cannot afford a lawyer and I do not qualify for legal assistance. Should I just let this process take its course and hope for the best? Will the bank go after my primary residence? I can even afford to pay any of the fees.Thank you for your reply.
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