Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

? asked in Business & FinancePersonal Finance · 10 years ago

Let them foreclose and go bankrupt or what?

A family member owns a home and they are totally upside down with a first and second mortgage. They need to move from the area in the next six months and can't rent or sell their house. Their plan was to sell the house when the time came. Now they can't. The house is in the husbands name. She feels they may be able to buy another house since her credit is good . She should be able to get a good job when she finishes school. But even then they can't pay two mortgages. It is California. I know this is not a "legal" advice forum. Just wondering if anybody had any ideas.

1 Answer

Relevance
  • ?
    Lv 7
    10 years ago
    Favorite Answer

    Try and buy a home before the foreclosure and let the first house go.

Still have questions? Get your answers by asking now.