[leia_collins27]

...when we meet about our foreclosure and possibly bancruptcy?

[Mark T]

Before you consider Foreclosure and BK as your only exit, I wouldtell you to get inform on whether or not you may qualify for the bank to modify your loan and even give you a clean slate with a better rate and and a lower payment.That has been mandated by the government and banks do not want orneed any more houses on their inventory. Remember banks are in thebusiness of creating loans not selling houses.Now, if you are at a point where you just want out, and you do not wantthe house then why not consider a short sale? You may be able tosave your credit and walk out with your hands clean!Don't expect to make any profit on this though because as it is, thebank will most likely have to accept a low offer for the property.Don't take what you're about to do lightly. I work with people whodecided to just do what you mention here and later there's a high price to pay for bad credit and not qualifying for almost anything.I'm a loan officer and have to deal with this on a daily basis.In the end though, it is your decision.Mark