I am a UK resident who bought a condo in florida in 2006 as an 'investment' (haha, good move huh)
iits now worth just $33,000 (i have a mortgage outstanding of $160,000)
its taken ALL my savings to keep it going, but i now have nothing left.
I have applied to my US mortgage company for ashort sale, but it looks as though they will turn it down.
I need to know what the implications are if i foreclose on my us mortgage to my home and finances in the UK.
my uk home is mortgaged and i have no savings.
iits now worth just $33,000 (i have a mortgage outstanding of $160,000)
its taken ALL my savings to keep it going, but i now have nothing left.
I have applied to my US mortgage company for ashort sale, but it looks as though they will turn it down.
I need to know what the implications are if i foreclose on my us mortgage to my home and finances in the UK.
my uk home is mortgaged and i have no savings.