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  1. #1
    cc5050 is offline Junior Member
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    May 2008
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    cannot afford home anymore

    What is the name of your state? FLORIDA

    what is the worst case scenario other than bad credit..if we(newlyweds) walk away from our home(cannot afford anymore)....we have a 3 year old 'interest only" mortgage with zero equity
  2. #2
    FlyingRon is offline Senior Member
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    Feb 2007
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    The lender may obtain a deficiency judgment and come after you for other assets to satisfy the money that they are still owed after the sale.
  3. #3
    VeronicaLodge is offline Senior Member
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    Oct 2007
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    why not do the grown up thing and sell it like everyone else who buys a house and then wants to move out?
  4. #4
    divgradcurl is offline Senior Member
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    Jul 2002
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    Quote Originally Posted by cc5050 View Post
    What is the name of your state? FLORIDA

    what is the worst case scenario other than bad credit..if we(newlyweds) walk away from our home(cannot afford anymore)....we have a 3 year old 'interest only" mortgage with zero equity
    Is your loan a no-recourse loan? Have you refinanced the original loan, or or taken any money out of the house (home equity loan, line of credit, etc.)?

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