Reply #261: Sounds like you've done what you had to do to go forward. [View All]

[Honeycombe8]

I wouldn't say you're a victim. You saw how much the monthly payment would be, you qualified for it, and more importantly, you approved it. So...can't say they tricked you on that.

Still, regardless of WHY you got into trouble with the house, sometimes you just have to take a licking on mistakes made, walk away honorably, and start over (hopefully not repeating the mistake!).

At least you called the mtge company & told them. Hopefully you left the house in pristine sell-ready condition, so they don't have to spend money and time cleaning it. And they can sell it for as much as possible. (Since they can still sue you for the balance between what you owe, and what they were able to sell it for. If they do, they will also claim from you the costs for cleaning and selling it.) Hopefully the bank will sell it for enough not to be worth it to go after you for the balance. Esp in this recession.

I hope you don't have extra money sitting around in bank accounts, because the mtge company will find it and maybe go after it. But it sounds like you're wiped out from medical costs, anyway.

Good luck. I've had a foreclosure. A lot of people have. We all get into trouble from time to time. The main thing is to recognize what you did wrong, so you don't repeat it, and to move forward and get back on your feet financially.

The foreclosure will stay on your record for...here in TX I think it's seven years. But that will pass.

Kudos to you for doing the brave thing to go forward with your life! Don't look back! Spilled milke and all that.