Resolved Question: Can I save my home with no equity in it?

i want a loan to pay off all my credit cards. i dont have any equity, i am in good standing with creditors, no late payments no phone calls ect. is there anything i can do? i dont want credit counseling because we are in good standing. are we SOL?

Open Question: What is deficiency judgement?

I own a duplex (currently living in one of them) and am in danger of foreclosing. Also I have a tenant under section 8 who is paying me rent. (not nearly enough) I bought the house with my boyfriend but since his credit was bad the loan was under my name. Since then we broke up and he refuses to pay his share. As a result I cannot afford the mortgage payments myself and am considering to let it go through foreclosure. My mortgage is $3400. My rental income is $600, and my regular income is only about $2500 after tax. There is about $50k equity but since the market is so horrible I can't sell it. ( I tried and it was just sitting on the market.) I live in los angeles, ca and if it went to foreclosure could the lenders sue me? Something about a deficiency judgement since this is not completely a residental. or is it? Could they come after my savings or garnish my wages? I really just want to walk away from this. I don't even care about the credit anymore as long as I can walk away.

Resolved Question: Can I save my home with no equity in it?

I have a home that that I just had appraiesd or what they called a CMA, Current Market Apprasial.
Our home is in Washington State, the CMA came back between 305,000-310,000.
I am paying 2 mortagages now as following:
294,000 at 8%
55,000 at 13.35%
349,000 Total

I am currently going into a chapter 7 bankruptcy, I was going to surrender the house, but if I can get a loan within the CMA, with one mortgage I possibly will be able to do payments with the right interest rate.

Is there anyway I can save the home?

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