Scenario: 1. Home value dropped to below $110K 2. Ist mortgage at $140K (home bought at $150K in 2005) 3. 2nd mortgage at $34K 4. Laid off last year 5. Working again but out of state 6. Paying rent while working on the road I have decided to let go of the house. What are the things I need to consider and prepare? Any advise from others who have suffered similar situations woudl be appreciated.
Posted by A_Maria