Mirella Under Water

I have this imaginary client named Mirella that i will refer to from time to time.

Mirella lives in a house that she lost in a foreclosure. She says the mortgage was $195,000 at the time of foreclosure but the bank can prove the value was only $150,000 when the property was foreclosed. The house was "under water" because it was worth $45,000 less than the amount she borrowed. She can avoid a deficiency judgment of $45,000 by declaring a post foreclosure bankruptcy.

Bankruptcy is an option to consider.