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Home Buying in Woodland Hills : Real Estate Advice

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Activity 1
Wed Jul 15, 2009
Fred Griffin answered:
Your friend and her husband should meet with an Attorney, and a Mortgage Loan Officer, and possibly a CPA.

As for "Walking Away":

Even though millions of people are "walking away" from their upside-down houses,
and even though it seems that Society is encouraging it,
and that is the prudent thing to do, etc. -

Your friend is most likely going to be liable for the Deficiency (the money the bank loses).
They may come after her for a Judgment; they will certainly wreck her credit.

Talk to the Professionals listed above.

Best wishes to you and to your friend.
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