Steven J Thomas
Junior Member
I currently live in Tennessee but I can no longer afford to stay in my home. I was laid off from my place of employment in 2009 and I am now disabled and living on a small fixed income. My realtor has requested a “short sale” on my behalf but the bank is stalling and I fear the buyers will withdraw their offer. I have a sum of money in the bank that is disability back payments. I have been spending the money on things that I perceive to be what it is for. I bought a reliable and fuel efficient car and a new pair of glasses. I will be spending approximately $10,000 to get my teeth fixed. I plan to move to Florida where I will purchase the home of my recently deceased father. My brother is in charge of my father’s estate and I plan to pay him a sum of money as a down payment on the place. This money will be placed into the trust for distribution to the beneficiaries. I have two questions. (1) Can my current mortgage loan servicer take my car and my father’s home away from me if I walk away from my mortgage and move into my dad’s place? (2) Is there anything wrong with spending the money as I am?