walk away from mortgage and citizenship

G

gogadada

Registered Users (C)
i am planning to walk away from the home as i can't afford the mortgage anymore or in other words give it back to bank; will this effect my eligibility to apply for citizenship ( 2010) or any other effect on my immigration status, i am currently a green card holder.
thanks in advance for the inputs.
 
Foreclosure does not affect naturalization eligibility, nor does it affect your immigration status.
 
On another note - try to see if you qualify for the newly launched refinance program before chucking in the house. It could reduce your interest rate to as low as 2% for the first 5 years with a maximum increase to 5% for the life of the loan.

Here is the article that gives more details: http://news.yahoo.com/s/ap/obama_housing

Its worth a try to figure out if this is an option for you...
 
You must log in or register to reply here.
Top