From: jim_pa_help@yahoo.com (Jim)
Newsgroups: misc.invest.real-estate alt.bankruptcy
Subject: Re: Foreclosure advice needed
Date: 1 Jun 2004 18:00:15 -0700

The property is actually in SW PA - in Butler county (right over the
line of Allegheny)- about 30 min. commute from Pittsburgh (which I did
every day). The house itself is very nice. If interested write my
email and I can give the exact address.

Thanks,
Jim



"Ron26"  wrote in message news:...
> Any chance you would be willing to post the town or area where the property
> is located?  I am in South Jersey, so if the property is in Southeastern PA,
> I might be interested in it as an investment -- maybe some type of "mortgage
> takeover" deal.  Is it listed with a realtor?
> 
> "Jim"  wrote in message
> news:da5e89b1.0405310951.6d361b92@posting.google.com...
> > Hi- I currently own a home in PA- and renting in FL where I now work.
> > I have been trying to sell my PA home now since January and have come
> > down from 169 to 139 with no offers (I originally bought at 145). I
> > currently have a first mortgage of 120000 and second mortgage/line of
> > credit at 43000 for a total of 163000.
> > I believe I am in a situation now where I will have to foreclose (I
> > cannot afford it anymore) and would appreciate any advice in this
> > area- in particular:
> >
> > 1. I have the opportunity to refinance everything at $168000 so it
> > would just be 1 mortgage that I would then foreclose on. Is it better
> > to foreclose with the 2 mortgages as I have it now- or just 1. In
> > particular I am wondering what the chances are of a shortage/
> > deficiency judgment and the liklihood that they will "come after me"
> > for that amount. Is it more likely with the scond mortgage- or even
> > with the refinanced?
> >
> >
> > I have to make this decision in the next couple of days so would
> > really appreciate any advice in this area.
> >
> > Thanks,
> > Jim