real estate atlanta foreclosure
Should I walk away from my Mortgage?
Currently I am living in NC and lost my job couple of weeks ago. Unfortunately the job market in NC turned very tight so at this time I am looking for jobs in Atlanta and Florida. In the event that I get a job in Florida should I walk away from my mortgage? I can try to keep rent and mortgage but not for while and due to currently real estate market I know it could take probably up to a year to sale my property. Eve though my wife and I both have great credit score for over 750, no credit card debts and car loan are almost done, we would like to do what is best for our family; if I need to live with 7 years trying to rebuild my credit, I can survive with that! What should be better of sign deed in lieu of foreclosure or foreclosure? Any ideas?? What should be the best solution?
No. You should pay your mortgage and rent in FL until you sell your NC house.
You should never default on your mortgage unless there is absolutely no other alternative and it sounds as though the worst thing you have right now is a couple weeks of unemployment (and I’m assuming your wife is still employed). Considering defaulting on your mortgage seems a pretty extreme choice.
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