We own 2 homes, 1 in Ca. & 1 in Tn. We are retired and spend 6 months at each home a year. However, we owe $220,000. on the home in Ca. and the appraisal and home sales in the area are only $165,000. We really can't offord both.

Other than the bad credit scores, is there any reason I shouldn't let the home in Ca. go into foreclosure???

Sharon Adamson

Comments

Printer version

 Tags: foreclosure

Answers

• 1
• 2
• 3
• 4
• 5

0 votes

Tina Vliet    April 21, 2009

What about the one in TN? If you have equity there, you might consider selling THAT house instead and wait for the CA market to turn around - especially if you can find cheaper housing for the part-year you're in TN. I would avoid the foreclosure if at all possible.