I am in a position where I must sell my home which, with mortgage and home equity loan, put the probable selling price at negative equity.
I have some savings which could be used to pay the banks the money I will need to divest myself of the house, but when I do, I will be left with practically no money to live on after retirement.
I have heard of 'debt forgiveness' which might be negotiated for the difference between what is owed and what I receive for selling the house, but then most of my savings will be lost.
Is there any way to resolve selling the house without losing all my savings?
I have some savings which could be used to pay the banks the money I will need to divest myself of the house, but when I do, I will be left with practically no money to live on after retirement.
I have heard of 'debt forgiveness' which might be negotiated for the difference between what is owed and what I receive for selling the house, but then most of my savings will be lost.
Is there any way to resolve selling the house without losing all my savings?