The simple answer is no. The mortgage deed allows the bank to re-posses the property on default of payment - not your assets.
However, you and your parents face a significant and long term hit on your credit with a foreclosure. There are several alternatives to avoid foreclosure including loan modification, short sale and other approaches that can be implemented.
We specialize in assisting homeowners to avoid foreclosure. Please visit our website at
http://hosted.cdpe.com/trademark or call us at 832-330-4588.... more
John, Most of what I have seen lately for sale in Everman is about $75-79,000 range, but you are correct that your home is a little bigger than many of those homes I've seen. It's pretty tough for us to quote you a price, but if everything is pretty clean and looking good in your home a rough guess would be in the $95-99K range unless you have an very large lot or there is something else unique about the home.... more