Going through a divorce is stressful enough without your home adding to your problems. Is your home worth less than you owe on it?
If this is your situation, you have options:
· Short Sale – Your house is sold for less than the amount of your mortgage loan. The bank will
not go after you for the difference. Even though you walk away with no house, you are also
walking away without any debt. Most importantly, there will be no foreclosure on your credit
record.
· Loan Modification – You may be able to keep your home if the lender will modify the terms
of your loan.
· Bankruptcy – By filing for bankruptcy and getting your debts cancelled, you may be able to
save your home.
If you are going through a divorce and are also facing a possible foreclosure of your home, contact an experienced Orange County Family Law attorney who can discuss the option that is best for you while providing you with the personal service you need at this time.
