Borrowing from Family and Friends Using Credit Cards for Basic Living Expenses Using your Savings to pay Bills
Banks Prefer Short Sales Over Foreclosures Your Credit is Better with a Short Sale than a Foreclosure or Deed In Lieu You May Get Relocation Expenses from Your Bank You Can’t Make it Anymore. Not Enough Income to Pay All Your Expenses.
You have to pay Fed and State Taxes on the Forgiven Amount. The Bank will come after You for the Balance Foreclosure is the same as a Short Sale
Divorce Lost a job Reduced income; Hours reduced Expenses have increased Mortgage has adjusted upward Turned down for a Loan Modification Transferred and can’t afford two homes