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Lucy, Esq.
Lucy, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 29803
Experience:  JA Mentor
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I am 67 yr old ad my income is social security and I am

Customer Question

I am 67 yr old ad my income is social security and I am buying a home with a partner thayt has been making the payments for the last 14 yrs and now we are going to go our separate ways and I cant afford to pay mortgage and the house is in my name only .Can I walk away
Submitted: 9 months ago.
Category: Real Estate Law
Expert:  Lucy, Esq. replied 9 months ago.


I'm Lucy, and I'd be happy to answer your questions today. I'm sorry to hear about your situation.

Yes, you can. Arkansas law allows a lender to sue the homeowner for any balance owed after the foreclosure sale. However, they can't take Social Security to pay a judgment. That money is protected. If your only income is Social Security, and you do not have other assets, there would be no way for the lender to make you pay.

If you have any questions or concerns about my response, please reply WITHOUT RATING. It's important that you are 100% satisfied with my courtesy and professionalism. Otherwise, please rate my service positively so I am paid for the time I spend answering questions. If you are on a mobile device, you may need to scroll to the right. There is no charge for follow-up questions. Thank you.

Expert:  Lucy, Esq. replied 9 months ago.

Do you have any other questions about this?