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Underwater Homes - Legal Issues You Need to Know When You Owe More Than Your House is Worth

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Uploaded by on May 25, 2011

Unfortunately, a booming real estate market, followed by sudden bubble burst, left a lot of people owning a house that was worth less than the mortgage owed on it. While many homeowners may be able to afford the house until things turn around, others may not. These homeowners need to understand some of the legal issues associated with these situations while deciding what to do about the house.

Craig Wisnom, attorney with Bogutz & Gordon and legal contributor for KVOA News 4, discusses details of "walking away" from a house on the News 4 at 4:00 program. For more information, visit http://www.bogutzandgordon.com or call (800) 688-2568.

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