February 9, 2008

Open Question: How would foreclosure on a home I own in the U.S. affect my credit in Canada?

Open Question: How would foreclosure on a home I own in the U.S. affect my credit in Canada?
I was transferred to Michigan a year and a half ago, only to recently lose my job. I returned home to Canada yet I still have a brand new home in Michigan that nobody wants to buy. I'm considering foreclosing on it as I cannot afford to continue making payments, and I'm curious to know if my canadian credit rating will be affected at all if I go this route.
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Open Question: Where online can I find statistics of a city? Stats such as the number if homeless, foreclosures, and so on.?
The city is Detroit,MI.
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Open Question: how hard is it to get a mortgage now if you have decent credit, no down payment,?
a good credit score, and 2 years job employment? is it harder now with all the foreclosures?
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Open Question: What Happens to the second mortgage??
I unfortunatley lost my house in foreclosure, I had an 80/20 loan. The house sold for a lot less than purchased, it wasn't enough to cover the first, but I got a 1099 from them, the second mortgage is still calling me trying to collect I honestly don't have any extra funds to pay. What happens now? Will they also send me a 1099? or what can I do please help!!??
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Open Question: Are there any small commercial properties for sale in Los Angeles area .?
I am interested in buying a commercial or foreclosure single home along a major LA road such as La Cienega Blvd., Crenshaw Blvd., or on some other major traffic road way . This is for a take away food shop. La Puente, Torrance, Inglewood any of these areas is OK as long as the maximum price is not more than 80,000 dollars for the free standing property.
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Tags: home equity loan, foreclosure

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