Foreclosure not the end of your debt; Bankruptcy is.

[rewire69]

the ultimate protection is to prove the fact that the bank does not even have possession of the deed and note.And as far as the note.They need to show the original wet ink contract and not a copy of it.And they cant show it due to it being securitized.So that will stop foreclosure and dont file bankruptcy

[RayAir1]

Michigan is a non-recourse state. And the taxes of the "gain" you talk of have been suspended through 2012. It's like kicking someone when they're down.

And if I am wrong with the above, you're right, bankruptcy is your ultimate protection.

[prkoqui]

forecloseddealz.cogia. net/

[gaae2000]

the Bush tax relief helps on this issue, still...my worry is about the 2nd piggyback equity line of credit/loan that got nothin after forclosure. This Heloc is the one that might come after u/me and its an endless worry that can last months to a year, no sleep.

[ScatterbrainMan]

What if you want to go bankruptcy because you have cancer and can't work anymore and you can't afford the monthly payments that the bankruptcy people charge to help you do your bankruptcy?

[Mechman064]

Good advice! Since I never got married, I probably won't need it but thanks anyway!