Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Mortgage
Profile Image

Question By
1WORKINGMAN

0 Contributions
0 People Helped
Should i walk away from my home
I've recently paid off my visa I only have a car note my score is 765 as of 2/19/14 but I must be honest I'm seriously thinking about walking away from my home because I'm one of those people in the middle. Good credit but cant refinance my under water home. You see I don't qualify for those special programs, "HARP" or anything else. I'm current on everything. Friends have done the same and seem to have bounced back with in three years. I don't want to contribute to the deficit but its not fair. Banks have come back from default and people like me are stuck with the bill!! what should I do?? Walk away sink or swim, help. This is my 2nd time submitting this question. I never received a reply. Thank you

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1165 Contributions
1225 People Helped

If you want to keep it, then talk to a Bankruptcy attorney. If you walk away from your home it will definately be worse for you down the road. Same thing with declaring BK, but at least you get to keep your things and get out of debt within 5 years. If you can swallow the bullet I would rather you buckle down and pay your bills, weather the storm until you see daylight. Look up Dave Ramsey financial Peace.......

Top Contributor
3051 Contributions
2885 People Helped

If you want to walk away, at least ask your lender if they would be willing to take a Deed in Lieu of Foreclosure.  That stays on your credit report for only 5 years whereas a full foreclosure stays on your report for 7 years. 

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.