Can't Get anywhere,, should I just walk away?

[levismom]

Hi, I am knew to the form and would appreciate any insight.

I have a first mortgage of 136,000 with Bank of America. I only put 5% down and it is a Freddimac. The loan is in my name only, my husband is on the Deed with me. My job hours got cut down from around 35 to 8 in February. I called the number in my loan payment book for help. They could not help me. They would not put me through to the loan mitigation, they instead gave me a different number to call that dealt with people that were struggling. The first 2 times I called the number they did not know what was going on with the Obama plan and actually hung up on me. The third time, they went through my expenses and earnings on the phone and said that I did have a deficit every month and that I was eligible for a loan mod. He would send me a form to send back to them with hardship letter and paystubs. Which I did immediately.

I have never heard back from them since about March. All this time the house has been for sale, I have had 2 showings. I am asking 149,000. Four neighbors have walked away and the foreclosure sales are around $100,000. I cant compete with my price.

I am current on my payments because we are using our savings. However, my husband is disabled, and once that is gone, its gone for good.

My question is: is SC a recourse state? my credit will be shot, but can we buy under my husband's name in the future? We own a piece of vacant land(SC), and a rental property (NY)in both our names. Both are for sale, but no takers. Can a lien be put against those properties? should I take my name off of them?

I dont want to eat up my savings, we are in our mid 50's. SC is high unemployment. Finding a job that pays more then minimum is hard. I work two part-time jobs right now and the hours are not steady or guaranteed.

help