We have a second (non homestead) house that we are walking away from. Yesterday got first notice from 1st mortgage's atty they are proceeding with foreclosure: sale to happen within 30 days. The house has a tapped out equity line too. The house is underwater for the amount of the 2nd approximately.
So here's my Q; I asked an atty in a consult if it was better to hurry up and file and stay the foreclosure so it could be in the estate OR just let the foreclosure sale take its course. Atty really didn't know which to advise. Said it wasn't clear cut.
What have you learned about this scenario?
So here's my Q; I asked an atty in a consult if it was better to hurry up and file and stay the foreclosure so it could be in the estate OR just let the foreclosure sale take its course. Atty really didn't know which to advise. Said it wasn't clear cut.
What have you learned about this scenario?