Michigan  |  Credit and Debt Law

Legal Question

Asked on: 10/17/11, 1:19 pm

I want to sell my house, but because of the number of foreclosed homes in the neighborhood I need to now sell it for less than I owe. I do not plan to walk away from this debt as a lot of my neighbors have done. Can these neighbors who walked away from their homes and reduced the values of our home be sued to cover my loss? I know a couple of the foreclosed homes are a result of divorce, rather than sell and take care of business they walked away. One foreclosed home is because he quit his job here in this area and took another postion in another town and rather than sell, they walked away from the home. Most of these foreclosed homes were not a result of a bad economy, they are a result of unresponsible people. Or can the banks be sued for making it to easy for irresponsible behavior and cover my loss?

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

133 Answers given in the last few hours.

8661 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search