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Old 09-27-2010, 08:03 PM
 
Location: SARASOTA, FLORIDA
11,486 posts, read 15,306,908 times
Reputation: 4894

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Quote:
Originally Posted by stpeteguy View Post
I'm just exploring options at this point. I have no problem missing mortgage payments if the outcome is something that's worth it to me.

I've come to the conclusion, that I will definately contact an attorney before I do anything. Hopefully one that has extensive experience in this matter.

Make sure you choose an attorney with a background in consumer or credit cases.
If you check them out online in most places it will tell you what their expertise is.
Good luck and do not make any decisions on anything until you find and consult with any attorney in this field of work.
Also check out short sales for similar homes in your area to see what has been going on.
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Old 09-28-2010, 08:06 AM
 
199 posts, read 528,480 times
Reputation: 345
Just my policy, but I don't rent to individuals with bad credit, foreclosure, or bankrupcy. So consider this if your planning to rent.
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Old 09-28-2010, 08:07 AM
 
Location: Kissimmee
32 posts, read 98,392 times
Reputation: 23
Quote:
Just my policy, but I don't rent to individuals with bad credit, foreclosure, or bankrupcy. So consider this if your planning to rent.
You may not, but plenty of other people (and apartment communities) do.
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Old 09-28-2010, 08:08 AM
 
Location: FLORIDA
8,963 posts, read 8,919,924 times
Reputation: 3462
But in FL, there are plenty that will. Some are begging folks to rent their place and accept folks they probably shouldnt (for reasons other than financial). Even here in Asheville where I live, we got a nice house to rent with a short sale we are still going through.
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Old 10-02-2010, 05:15 PM
 
541 posts, read 1,995,280 times
Reputation: 440
What I have learned from several people we know that declared bankruptcy, did short sales and/or walked away from their homes:

-They were able to rent nice apartments and homes right after
-They were getting tons of credit card offers in the mail a month or two after (0% APR for a year +, 9% or less APR after that, $39 annual fee, large credit amounts)
-They were able to get car loans and home loans not long after for not crazy rates (not the best going but not outrageous either)
-Some even got great jobs working with money, at banks, etc.

I have also read and heard that people with stellar credit that pay their CC's off every month are getting credit lines lowered by the thousands and cards closed. The CC companies hate them.

Go figure...

I read the other day that 1 in 4 homes are in foreclosure in this country, so I guess things have changed.
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Old 06-04-2011, 04:03 AM
 
792 posts, read 2,292,206 times
Reputation: 822
Well, I finally got the ball rolling on this.

I retained legal council a few days and have decided to press ahead with it.

I will update this thread with new information about the process as it unfolds.
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Old 06-04-2011, 06:36 AM
 
769 posts, read 2,051,181 times
Reputation: 284
Quote:
Originally Posted by stpeteguy View Post
Well, I finally got the ball rolling on this.

I retained legal council a few days and have decided to press ahead with it.

I will update this thread with new information about the process as it unfolds.
Great!!! I hope the bank comes after you for every dime you them. I hope your attorney knows what he/she is doing. I know someone who did this with an attorney and they still got sued. Had a judgement issued in favor of the bank, so now they're having to pay it anyway.
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Old 06-04-2011, 09:56 AM
 
55 posts, read 152,330 times
Reputation: 35
No dog in this fight but keep us posted. I am curious to see how it ends up
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Old 06-05-2011, 04:29 PM
 
Location: FLORIDA
8,963 posts, read 8,919,924 times
Reputation: 3462
Quote:
Originally Posted by newyorker24 View Post
Great!!! I hope the bank comes after you for every dime you them. I hope your attorney knows what he/she is doing. I know someone who did this with an attorney and they still got sued. Had a judgement issued in favor of the bank, so now they're having to pay it anyway.

What the heck are you talking about? The banks got bailed out and the average joe's can't? Screw that - dont pay the banks a dime!!! Your friend should have filed bankruptcy before having a judgement issued.
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Old 06-05-2011, 04:35 PM
 
769 posts, read 2,051,181 times
Reputation: 284
Quote:
Originally Posted by ComSense View Post
What the heck are you talking about? The banks got bailed out and the average joe's can't? Screw that - dont pay the banks a dime!!! Your friend should have filed bankruptcy before having a judgement issued.
What are you talking about??? The banks paid the money back.

And why does the OP need a bailout? He can pay his mortgage, just doesn't want to.
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