To: A CA Guy
I think new Federal laws don't allow people to walk await from mortgages anymore. They are stuck I think. They never did. If you walk away and the house is sold at auction, the IRS will stick you for income taxes on the balance left over after the sale.
325 posted on
12/13/2006 9:17:23 PM PST by
Texasforever
(I have neither been there nor done that.)
To: Texasforever
What I meant to say is that the national picture on real estate looks more these days like Texas in how they handle walking away. Califonria used to be easy to walk away and I think new laws have changed all that TF.
330 posted on
12/13/2006 10:11:51 PM PST by
A CA Guy
(God Bless America, God bless and keep safe our fighting men and women.)
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