Foreclosure Worse
Do you have to pay anything for foreclosure?
We live in CA and our house is 100,000 less then what we owe, we are able to make our payments but the only reason we bought the house 3 yrs ago was to earn some equity and buy something closer to our jobs. We are thinking on foreclosure because we can’t live like this for 3 more years, such a long commute and getting up at 5am is killing us. Our 3 year sacrifice worth nothing. 
Advice please… What is the cost of foreclosure beside bad credit? Thanks for taking the time…
it’s hard to measure foreclosures in hard money terms–yes, it will hurt your credit for years, but that value itself is difficult to approximate. On a more positive note–and possibly what you DON’T want to hear is: think about biting the bullet, so to speak, and stay where you are until the real estate market turns upwards again. This option (as you have explained quite clearly) is not what you want, but if you can stay and maintain your payments, eventually (and it could take a year, maybe two) the market will turn and you will see appreciation in your investment. I’ve been in real estate for over 30 years and i’ve seen the market drop at times, but EVERY time it does, it rebounds and prices move higher. We are in a downturn now, but that will change; it always does. Wish i could help you more, but keep the faith. Good luck!
Couple: Loan Scheme, Lawyer Made Foreclosure Worse
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