Should I let my home go into foreclosure? ?
Here is my situation. I own my home and have a home equity loan that I assumed after my divorce. I owe $ 133,000 on my mortgage, plus $ 20,000 in a home equity loan that my ex took out and I had to assume in order to keep the home. My sons have bled me dry financially over the last 4 years, have had a car I bought for my son repossessed last year becuz he wasn’t making the payments and the car was in my name. I put my house on the market last week becuz my I want to start a new life with my bf who recently took a job transfer to Dallas Texas. I just found out last night that my mortgage company has hired an attorney to collect on my home and also was informed that on January 7th my home will be put on auction for what is called a fire sale! I am close to two months behind on my payments, and nobody has ever called me. I’m not sure what to do here. Do I walk away? Do I fight? What about the 20,000 home equity loan? Thanks to anyone who takes the time to answer this.