Any Help Available For Those Who Walked?

[ladywisdom2010]

I recently had to "walk" handing in the keys to my home of 38 years due to not being able to make the payments. I gave them the title to the house. Is there relief or some compensation offered to those who made this decision?

I did not want to make the mortgage company go through the expense of the foreclosure process. Maybe I should have waited for the foreclosure process to have its way. Florida

 

[nextwife]

Did you give a deed to the lender? If not, thy still will need to foreclose.

Why, after 38 years did you owe so much on the house you couldn't pay? You could not have merely refinanced the remaining balance.

 

[HomeGuru]

I recently had to "walk" handing in the keys to my home of 38 years due to not being able to make the payments. I gave them the title to the house. Is there relief or some compensation offered to those who made this decision?


**A: you should have asked that of the lender before walking.

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I did not want to make the mortgage company go through the expense of the foreclosure process. Maybe I should have waited for the foreclosure process to have its way. Florida

**A: see above.

 

[HUD-1]

I suppose that if you gave them a DIL and they did not pursue a deficiency judgment, then that is your "relief".