Legal Question in Real Estate Law in California
Im short selling or loosing rental property in forclosure sale in a couple of weeks. we lived in house for first two years of loan. bank doubled payment during 5 year fixed loan. havent made payments in two years and am upside down 200k. will they come after me for taxes or for difference. we bought this house in 2006. we've tried to mod. loan for two years now with no luck. we also have assets, payed off cars, some cash in the bank, two other property's that we owe more than worth. should we file b. k. to protect ourself, seeing that our credit is already shot. thankyou
Asked on 2/06/11, 9:54 am
1 Answer from Attorneys
I only dabble in bankruptcy, by no means an expert, but you sound like a great candidate for a Ch. 13. You should contact a local bankruptcy attorney right away.
Answered on 2/07/11, 11:44 am
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