Should they:
1) Just say to heck with it, and stop making the mortgage payments and
let it go back to VA?
2) Try to work with the VA. Will they help in any way?
3) Who should they talk to?
4) Will this mess up their credit even more? I think they have about a
400 score. Not great.
Both have degrees. She is a teacher and he is just about to complete
state trooper academy school in another state and will need to move to
another state by the end of June.
Well, could he possibly use his state trooper training in the other state to
get a police job locally? I believe there is a nationwide shortage of trained
law enforcement officers and there is also fairly healthy demand for teachers,
so maybe this applies where they are already living :-)
Then there would be no need to sell the house and no need to find a new place
to live in the other state.
To get back to the question you asked, their credit is almost certainly in bad
shape already. Defaulting on the mortgage will make things even worse, but
maybe their lender (the VA) will work out a plan for them. Or perhaps they can
file for bankruptcy. Or they can lower the price of the house....
*****
Tim Horrigan <horrigan@aol.com>
*****
