Hi all. I hope I provide enough info here for some advice.
My only mortgage is with BofA, formerly CW. First missed payment 05/2010. Had been on the market for short sale since 12/2009, no takers.
At this point, I want to walk away. I'm recently divorced and can't afford the place anymore. The short sale was approved at 75k and the balance on the loan is 170k. Since we couldn't find a buyer, you see how bad the situation is here.
My biggest concern is, what are my odds of a deficiency judgement after the foreclosure? I'm in Fl, unfortunately. I'm 26 and have no assets other than my retirement accounts, so there's not much for them to take. Any ideas on how to negotiate out of a deficiency while going through foreclosure?
Thanks in advance.
Editing to add for anyone going throughout this, they already called and knocked down all my credit cards with them. Sadly, before this, I've had flawless credit.