I'll try and put something house related in the title if the post relates to that, for those that aren't interested.
Interesting angle on this new lawsuit by a professor in a community less then 5 minutes away from my former house.
I've met with an attorney in regards to the current foreclosure action. As wrote Monday, not much has changed, it's essentially the bank trying to cover all of their bases at the moment.
I'm at the point, where I'm trying to decide to whether to retain the attorney, who would try and assist with the short sale, or represent myself with the courts as we move forward. This whole process has been one big vacuum on cash. Add in the debt that we had prior to moving and wife being laid off at the end of October and there is a part of me, that rejects the notion of investing any more then I have to at this point. We aren't desolate, but hiring a lawyer at this point seems potentially silly. I have to believe that even if the banks pursue a deficiency judgement (and I can't tell whether they will or won't), the amount of it would be fairly trivial from their perspective (in my opinion) and my attorney fees, could potentially be 10-15% of that. Not to mention, with the current crush of debt and a deficiency judgement, I'd likely have to play my last card and would likely file bankruptcy. Which would mean that spending dollars on the potential help of an attorney in this matter only to see it fail and then having to spend more cash on a bankruptcy attorney seems sort of stupid.
I'm talking with the attorney this afternoon in regards to it. I could understand if there was a potential 6 figure deficit out there that the banks needed to close the gap on and I if had any type of resources for them to come after, but my slate is pretty clean as far as green money goes, although I have no idea how the courts view these types of things. Perhaps the bank would like my rusting 10 yr old Dodge Stratus, that I just sunk more money than it's worth into last month (cringe).
I feel like I'm playing poker and losing regularly.
5 months ago