We just received a 30 day final notice for a property that once was our primary residence in Minnesota. We are in Nevada. We are wondering if we should work with a lawyer to protect our interests and if so, can work with one in our current state or if we need to work with one in our former state? Doing some research, some say declare bankruptcy so the lender cannot come after us in the future--others say let the foreclosure go through on its own. We cannot afford the property in the other state and have fallen behind on payments. We came to our new state for a new employment opportunity for my spouse. We are currently renting in our new state.
The Home is listed for sale with no offers to date. I have talked with the lender over the last three months informing them of the reason why we cannot make payments and have submitted paperwork with them in the event a short sale goes through. They do not have programs for us other than adjusting our mortgage and we would need to resubmit the same paperwork we already gave them. We considered renters but thought if an offer came through it would be too inconvenient.