Moving in Grand Rapids>Question Details

Kris Hutchins, Home Buyer in Blanchard, MI

We have a severe mold problem inside our home and outside. We want to leave our home. How can we do this legally?

Asked by Kris Hutchins, Blanchard, MI Sat Oct 16, 2010

We are recieving 20,000 - $60,000.00 from a car accident claim soon. We have been told also we cannot be guarrenteed once it has been removed the mold will not come back. So we feel trying to clean it up could possibly not work in the long run. We also have a swamp directly behind us which produces a constant musty smell outdoors. our outdoor furniture always has mold on it and I have been sick for yrs. and feel this is why. We want to go to the morgage co and explain this and ask for them to take the house back. If we file for bankrupt they can take the money also, correct? Can they take our assets, car,we owe 6000, truck, personal belongings? Garnish our wages? How can we start over and still have some cash to do it with. Is this really that wrong to leave this mess and not pay for it when we do have some money? Can we buy another home and put it in our sons name?? KS

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Kris, It sounds like you have a ton of great questions I would defiantly consult with an attorney if I were you. Also visit if you need any help with buying or selling your home!
0 votes Thank Flag Link Thu Oct 25, 2012
Hi Kris,

Your question was duplicated on our site. You can thus find several additional answers to your inquiry via the link below.

Best Wishes,

Emily Gibson
Community Moderator
0 votes Thank Flag Link Mon Oct 18, 2010

You really need to be consulting with a real estate attorney to detail your options for you. A lender is going to want to see proof of financial hardship to cooperate with a short sale, and even then, you may not be off-the-hook for any outstanding balance.

Keep us posted, and I look forward to seeing what others offer. I can certainly align you with the right agent in your area who would handle a distressed property transaction.

My best to you.
Web Reference:
0 votes Thank Flag Link Sun Oct 17, 2010
In order to best protect yourself and any other assets you may have, before making any decision, strongly consider consulting with an attorney who specializes in real estate, or bankruptcy if you plan on filing.
0 votes Thank Flag Link Sun Oct 17, 2010
This is a really sticky question. There are so many factors in play here. First up, there is no question you should be seeking counsel on this. Bankrupcy, foreclosure, settlements and mold sickness are all huge legal issues that are best left to counsel to guide you through. Trulia is loaded with mortgage and real estate experts, but I doubt any of them can give you the perfect answer. The last part of your question about putting a future home in your sons name will depend on many factors as well (his credit, age, are you gifting him funds, etc.) These questions are best answered via a loan officer, but I would get your legal issues fixed first before I would be exploring your next house. I wish you luck in working this out.
0 votes Thank Flag Link Sat Oct 16, 2010
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