Pennsylvania  |  Real Estate Law

question bubble
6/24/11, 6:53 pm

Legal Question

Is there such a procedure in place that if you bought a home and you're

keeping up with the mortage payments but realize that with the shape the housing market is in and knowing the home has lost value and your not going to get the price you purchased it for,

can the home be given back to the bank. Or is that considered Foreclosure.

What would be the Consequence with your credit.

Thank You,

S.


Search Past Answers:
  Advanced Search

Related Questions and Answers

► I notified my landlord by email that I would like to renew, but never signed...

► We are a dairy farm. we have a huge cropstore silo. a person came to us and ask if...

► My shed was built around 8 years ago by my husband my neighbor is my husbands father...

► We put a bid on a short sale house in November, which was delayed and finally...

► On my lease it states "Tenants are required to have their carpets...

► I signed a short term rental lease for a vacation property. The duration was one...

► We are in the process of buying a home in PA. Upon accepting our offer, the seller...

More Real Estate and Real Property questions and answers in Pennsylvania
Bill of Sale Living Will
Contracts Notices
Divorce Power of Attorney
Show More
Search

View Complete List ▼

Top Areas of Law

Administrative Law Family Law
Bankruptcy Law Family Medical Leave...
Child Custody Health Care Law
Collections Law Immigration Law
Criminal Law Insurance Law
Discrimination Law Labor Law
Divorce Law Landlord/Tenants
Drunk Driving Law Legal Ethics
Employment Law Legal Malpractice
Medical Malpractice Personal Injury Law
Probate Law Real Estate Law
Sexual Harassment Tech Law
Traffic Law Wills Law
Workers' Compensation