Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
Thank you. I really don't want to keep the vacation properties, but I'm so upside-down
that I can't get out of them. Now I more than likely won't be able to pay the mortgages
on them. Do I need to be late on those payments before the mortgage companies will
negotiate with me?
Also, I am serious about opening up my own Optometry office. I don't want to jeopardize my credit while doing so. I'm concerned about being late on my mortgage
payments and at the same time applying for credit with my ophthalmic creditors.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).