A long and perilous road
Woodstock couple fighting to avert foreclosure, get out of upside-down mortgage
CRYSTAL LAKE – Carlos and LaRae Alvarado were served with foreclosure papers at their Woodstock townhouse on Valentine's Day.
The couple and their two children are fighting the foreclosure in court while exploring the possibility of a short sale. A short sale is a deal with the bank that allows the homeowner to sell the home for less than the value of the mortgage.
For the Alvarado family, it might be the best way to avoid foreclosure and get out of an upside down mortgage.
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