Legal Question in Real Estate Law in Virginia

Foreclosure
Six months ago I stopped paying my mortgage. Major medical bills forced me to give up living in my own home. I am permanatly disabled and have been for 20 years. I tried to sell the property. The RE Agent who was also the appraiser now tells me it is not worth his original appraisal of 460,000 but 150,000?? how can that be? The mortgage company keeps telling me to try and hold on, I am going to a nursing home and want this off my plate. How can I get the mortgage company to effect a forclosure and do it properly?
Thanks.

Asked on 9/13/04, 8:31 am

Thomas Dunlap Dunlap, Grubb & Weaver, PLLC

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Re: Foreclosure

You may want to consider bankruptcy. Please contact Daniel Grubb at 703-777-7319

Answered on 9/13/04, 8:34 am

Michael Hendrickson Law Office Michael E. Hendrickson

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Re: Foreclosure

It would appear that you need another appraiser as well as real estate agent. The two functions of appraiser and agent should be carried out my

separate and distinct persons with no commercial and/or other connections between the two.

Answered on 9/13/04, 10:42 am

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