How can we avoid any judgments against us if they foreclose?
My husband bought this house in 2002. All payments were made on time during our occupation of the property. He joined the army in 2005 and left for boot camp in march of 2005. I made the mortgage payments while he was gone and put the house up for sale thruogh coldwell banker. We received orders to be stationed in texas "FORTHOOD" in July of 2005. The house remained on the market for four months, with no serious buyers interested and falling behind on our mortgage we rented out the property to keep the mortgage payed. Although the mortgage was being payed on time every month we still remained behind those four months. I renters broke the lease and abandoned the property in July of 2007. I made aug. mortgage payment and went to the property with intentions of putting the property either up for sale or rent it out. The property was very badly damaged and I spent close to a thousand dollars trying to fix it up. I had it appraised in sept. of 2007. It appraised for 71,000.00 we owe 70,000.00. We live in forthood and it is impossible for us to pay to live here and for this house. So if my calculations are right we are almost a year behind in payments. we want to make the best decision we can. If we can sell it great if we have to foreclose we want to know our rights so that we can avoid years of judgments against us and our credit.






