Asked by Dave Dykstra, Overland Park, KS • Fri Jan 24, 2014
My wife and I live in town house that we paid $196k 11 yrs ago. Assessed value is $135k and we owe $170k. We are both now on SS disability payments plus a monthly pension payment (PBG) and a temporary LTD payment that will end in about 1 yr. I have a small 401k and a small life insurance cash value. I do not qualify for HARP. The primary is $135k and the secondary is $35k.
If bank agrees to short sale, are they giving up the right to pursue me for the balance? If not, what assets could they attach or garnish? We do not intend to purchase another property.
Real Estate in Overland Park
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