Legal Question in Real Estate Law in Missouri

I was told by two real estate agents that my home that I've owned since 2006 is over $30,000.00 underwater. I live in Southwest Missouri. The original price was $129,000.00 and now $74,000.00 The is FHA, I am a service connected veteran. In addition I have never missed a payment or been late and had a bankruptcy in 2008.

I want to leave without having to pay the difference.

What should I do about this situation? I don't want to rent because I wont be able to repair the house and live in another state.

Thank you in advance. I never saw this coming. It's unbelievable. Is this happening a lot?


Asked on 11/19/13, 6:20 pm

1 Answer from Attorneys
Michael R. Nack Michael R. Nack, Attorney at Law

You can contact your lender to discuss doing a "short sale. You may want to consult with an attorney in your area first.

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Answered on 12/14/13, 9:52 pm


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