Bank is threatening foreclosure on both houses
June 17th, 2015 by Questions
I own a house that is being rented, as well as a house that was started construction for us to move into and sell out other house( which is now rented). In the meantime we have moved abroad and have not been able to sell either, our unfinished house has not sold and we are getting tremendous pressure. Our rented one still pays bills for that one. Bank is threatening foreclosure on both, but we have no other assets as they were sold long ago, nothing left in the bank. Just these two houses. We have accepted that we won’t make a profit or any money selling, should we file for bankruptcy? Should we just walk away? What are the options considering we no longer live in Canada? We don’t own property here or even have much in the account so can’t pay anything anyway! Options, please!