Will we have to pay anything?

[rottlvr2]

We are in foreclosure and I am wondering if we will end up owing anything as we are going to walk away. I spoke to a lawyer who said that unless we are contesting it, we do not need a lawyer. With the foreclosure forgiveness act that was passed and us having filed bankruptcy last year as well, we should not get squeezed, according to him. I am looking for a second opinion.

 

[Duranie]

It largely depends what state you are in and if this is your primary residence.

 

[rottlvr2]

Illinois and primary residence.

 

[zencowboy]

Don't walk away!

Fight it, Contest it. There is no reason to walk away, you could File an Objection or Answer, file a Notice of Discovery and request the proof that the Plaintiff has the original Note with the proper endorsements, and only then can they have Standing to bring the suit forward.
Either way you can do a loan modification or short sale. Don't just walk away. Its your home not theirs!

I am not an Attorney this is not legal advice just opinion of a fellow citizen.