Asked by Free_spirited_chic, Kansas • Tue Jun 12, 2012
and was unable to make my payments for 3 consecutive months thus far. I have received a notice of foreclosure from the USDA and I would like to know how this is going to affect me. I have had the house listed wtih a realtor for about a month now, without any offers. If foreclosure proceedings start, what do I tell my agent? What if the house sells for less than my current balance? I no longer live there (it has been empty for 6 months as I have had to move for a job); my initial plan was to finish rennovations to it and sell it for a good profit, but then I ran into pitfalls where I could not make the mortgage payment because I needed that check to pay for my rental. I would eventually like to buy another house again hopefully in the next 1-3 years and would not like to be penalized forever for this, as the case in the next 1-3 years will be that I WON'T have to be making a rental payment and a mortgage (estimating about $2000 in monthly housing payments)
Real Estate in Westport
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