Dangerous Crime, Have to move immediately

[wrstanton]

I'm in a situation where my home, built in 2005 in E. Atlanta, is underwater by about $80,000 in value. I'm solvent and can afford the payments, but I'm throwing money at what has turned out to be a horrible investment. The real kicker is, we have been burglarized twice, once while my wife was home and had to hide with my then 2 year old daughter while they ransacked the house. Furthermore, 2 weeks ago my neighbor was in his yard when he was approached by 2 men, who put a gun in his face and forced him in his house. They then proceeded to tie up his 9 year old daughter, himself and his wife and forced them face down to the ground at gunpoint. The tie up job was "shotty" so when the criminals went to the basement to steal the car, they ran across the street to my house banging on my door for refuge. I have since listed my house and have decided to put it at $259,000 despite the fact I paid $335,000 for it. I know for a fact I won't even get that as my neighbor just dumped his home for $200,000. I can't show financial hardship, however who in the heck would continue to live in this situation, I fear for my family for reasons I've stated, so I'm moving no matter what. Safety over credit is an easy decision. A strategic default is likely on the horizon. I'm not trying to negotiate my mortgage because I'm not looking to stay here. And I can't pay rent on another home and continue to pay this mortgage, but I'm not waiting to sell this home before I move. It's simply too dangerous to subject my family to the criminal activity in my once re-gentrifying neighborhood. What advice at all you can briefly provide, or information I may need to know in regards to a strategic default in GA? How concerned should I be about the lender looking to come after me for a deficiancy judgement? Lastly, what does the 1099 form I'm to be sent by the lender really mean? Thank you, I feel desperate!

 

[army judge]

You should contact John Harris. John was a prolific poster on this site and an aggressive proponent of homeowner liberties. He runs the GA House (or Home) Trust in Atlanta.

Google it and/or him.

Contact him.

He may have some suggestions that could help you.

But, no matter what, get the hell outta that crime infested location! Run for your lives!!!!

 

[wrstanton]

that's a start, thank you!