Negative Equity on Home
October 10th, 2010 by Questions
We have negative equity on our home of about $40,000. While considering either a CP or bankruptcy we are trying to get our questions answered regarding foreclosure. If we go into foreclosure after filing a CP or bankruptcy, will we be responsible for the shortfall to our mortgage holder? We would like to keep our home as we think it should regain it`s value, but it will be very tight for us during the CP or bankruptcy. We are wondering if it might be better to let the house go.
Posted from: British Columbia