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Subject: Legal advice
I have a HLTV home mortgage (I consolidated credit card debt into a `125% house loan). I got this loan through First Plus Savings which has since been bought by Bank United. The total value of my mortgage is about 155,000. My house was recently appraised at about 134,000. I have live there since October of 1998 (my payment is 1600 a month). A month after I moved in there was a massive rainstorm which cause the foundation of my house to shift some, One corner of the house noticeably bows and has some cracks in it.
Within the next 6 months I plan on getting married. My fiancee has her own house and a very good job.
Could you explain to me the consequences of voluntarily defaulting on a HLTV mortgage loan. I don't know what else to do.
cc:
Subject: Legal advice
I have a HLTV home mortgage (I consolidated credit card debt into a `125% house loan). I got this loan through First Plus Savings which has since been bought by Bank United. The total value of my mortgage is about 155,000. My house was recently appraised at about 134,000. I have live there since October of 1998 (my payment is 1600 a month). A month after I moved in there was a massive rainstorm which cause the foundation of my house to shift some, One corner of the house noticeably bows and has some cracks in it.
Within the next 6 months I plan on getting married. My fiancee has her own house and a very good job.
Could you explain to me the consequences of voluntarily defaulting on a HLTV mortgage loan. I don't know what else to do.