Hi,
I have agreed to voluntary surrender of my home with a bank as full and final settlement, after years of fighting to keep it.
There now appears to be a judgement against it for a personal loan amount from about six years back when another bank wouldn’t agree to an instalment plan, even though I still pay a nominal amount to that loan per week to this day. I was not informed of the judgement until now.
Would anyone know what will happen to this judgement when the house is surrendered? I have absolutely no way of paying the amount in full, and the house is in serious negative equity and will be sold for a loss so no equity in sale.
Thank you
I have agreed to voluntary surrender of my home with a bank as full and final settlement, after years of fighting to keep it.
There now appears to be a judgement against it for a personal loan amount from about six years back when another bank wouldn’t agree to an instalment plan, even though I still pay a nominal amount to that loan per week to this day. I was not informed of the judgement until now.
Would anyone know what will happen to this judgement when the house is surrendered? I have absolutely no way of paying the amount in full, and the house is in serious negative equity and will be sold for a loss so no equity in sale.
Thank you