We have a home in NJ, we have a mortgage and a home equity loan, we have never missed a payment. We need to move and can’t sell our house while using an agent without losing money with thier commision. Is there any way to simply give the house to the bank to settle the debt and walk away without foreclosing?
My parents own their home out right, so they don’t have a mortgage but they have a home equity loan. If they file for Chapter 7, will they loose their home?
Earlier I asked about how to get some debt relief.
1. I cannot transfer balances to another card as I cannot get approved w/ a 0% card because I already have too much debt.
2. I can’t get a home equity loan because I don’t have enough equity.
3. I called Amex today as my minumum w/ them alone is 250 a month at 30% interest. The best they would offer was 14.99%. When I mentioned that I did not want to go into a debt settlement program, they said that they do not participate in that.
Any other ideas?