Loans, Debt & Credit - View Single Post - Thinking about walking away here in FL and very confused

Angel.R · 08-23-2009, 08:19 AM

Thank you guys for all your suggestions and help.I have started looking into NACA and might try them first.I also just received a letter for America's Servicing Co which is the bank that owns my first mortgage about options like modification,short sale,etc.

I do have a question about short sale though.When you go and try to do a short sale on the house.What are the consequences of this besides credit hit.What I mean let said I do a short sale and my house is sold.Is that it?Or I still will have other responsibilities?Like tax and other fees?The reason I ask is because I have been reading about short sale but a lot of people says is not the best way to go if I want out of my house.Thanks for the help guys!!

08-23-2009, 08:19 AM	#7 (permalink)
Angel.R Senior Member Join Date: Jan 2009 Posts: 30 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Thinking about walking away here in FL and very confused Thank you guys for all your suggestions and help.I have started looking into NACA and might try them first.I also just received a letter for America's Servicing Co which is the bank that owns my first mortgage about options like modification,short sale,etc. I do have a question about short sale though.When you go and try to do a short sale on the house.What are the consequences of this besides credit hit.What I mean let said I do a short sale and my house is sold.Is that it?Or I still will have other responsibilities?Like tax and other fees?The reason I ask is because I have been reading about short sale but a lot of people says is not the best way to go if I want out of my house.Thanks for the help guys!!