If your loan is recourse loan (as it may be due to multiple re-financings), if you walk away, the lender can come after you for any deficiency. If you have other assets, this will be bad for you. If you are thinking of walking away because you are financially unable to pay (rather than unwilling to pay since it is a loss making investment), you should seek the advice of a good bankruptcy attorney (especially the one who also knows some real estate law).
If your loan is recourse loan (as it may be due to multiple re-financings), if you walk away, the lender can come after you for any deficiency. If you have other assets, this will be bad for you. If you are thinking of walking away because you are financially unable to pay (rather than unwilling to pay since it is a loss making investment), you should seek the advice of a good bankruptcy attorney (especially the one who also knows some real estate law).
If your loan is recourse loan (as it may be due to multiple re-financings), if you walk away, the lender can come after you for any deficiency. If you have other assets, this will be bad for you. If you are thinking of walking away because you are financially unable to pay (rather than unwilling to pay since it is a loss making investment), you should seek the advice of a good bankruptcy attorney (especially the one who also knows some real estate law).
If your loan is recourse loan (as it may be due to multiple re-financings), if you walk away, the lender can come after you for any deficiency. If you have other assets, this will be bad for you. If you are thinking of walking away because you are financially unable to pay (rather than unwilling to pay since it is a loss making investment), you should seek the advice of a good bankruptcy attorney (especially the one who also knows some real estate law).
If your loan is recourse loan (as it may be due to multiple re-financings), if you walk away, the lender can come after you for any deficiency. If you have other assets, this will be bad for you. If you are thinking of walking away because you are financially unable to pay (rather than unwilling to pay since it is a loss making investment), you should seek the advice of a good bankruptcy attorney (especially the one who also knows some real estate law).
