YorkieTalk.com Forums - Yorkshire Terrier Community - View Single Post - Need advice: Walking away from your mortgage

wookie · 08-28-2008, 01:39 PM

My friend walked away from her mortgage in November, its nearly 10 months and she has not had any repercussions from doing so. I'm just curious what may happen to her, credit wise. She tells me her credit is fine right now and actually just opened a couple credit cards with no issues.

Prior to her walking away, she had asked her bank if they can help her and her bank turned her away stating that they can't do anything. Now she tells me that they are calling her and stating that they are willing to work with her and asked her to give them like her budget details to determine her affordability. She turned them down and told them flat out that she tried working with them before it happened but they didn't do anything and now its too late. She just doesn't care anymore. But of course, she's my friend and I'm always looking out for her, been that way since the 6th grade.

Anyhoot, I'm just wondering if anyone here had the same experience, or know of anyone that went through this. Or a professional that handles these kinds of situations and can give any advice? What are the repercussions of doing this or what steps she should have taken instead of just walking away?

Thanks!

08-28-2008, 01:39 PM	#1
wookie Donating YT 500 Club Member Join Date: Jun 2005 Location: Bay Area, CA Posts: 1,086	Need advice: Walking away from your mortgage My friend walked away from her mortgage in November, its nearly 10 months and she has not had any repercussions from doing so. I'm just curious what may happen to her, credit wise. She tells me her credit is fine right now and actually just opened a couple credit cards with no issues. Prior to her walking away, she had asked her bank if they can help her and her bank turned her away stating that they can't do anything. Now she tells me that they are calling her and stating that they are willing to work with her and asked her to give them like her budget details to determine her affordability. She turned them down and told them flat out that she tried working with them before it happened but they didn't do anything and now its too late. She just doesn't care anymore. But of course, she's my friend and I'm always looking out for her, been that way since the 6th grade. Anyhoot, I'm just wondering if anyone here had the same experience, or know of anyone that went through this. Or a professional that handles these kinds of situations and can give any advice? What are the repercussions of doing this or what steps she should have taken instead of just walking away? Thanks!