In short : We are $ 100K upside down in our mortgage . My wife is losing their working hours , we have a second child , I work for GM and could completely lose my job before October , wifes have 60K in student loan debt , no mortgage lender will help or modify the loan and stress of all this is driving my marriage with the ground . We are looking to buy a house forclosed firesale priced under the name of my wife / credit and let me fall on the knife with the foreclosure to ensure we have a home for our family . If I do not walk , later this year that will not be able to keep up with current payments regardless of whether or not I am still employed because of the situation of my wife with work and the need to be home with children to save on childcare costs . Do away at this point makes sense , or am I dilussional here ? I can not see any way out , and a bankruptcy attorney I know you do not need to pay for something , you just have to walk. I live in Michigan to boot , so it certainly will not help anything . Comments , thoughts or tips .. please!
I've been in my house for 3 years and have lost about 100K in equity at that time. This house was not meant to be a long-term home , only one to get my family out and hire a desirable neighborhood after selling . The market crashed , and now I feel like I'm stuck . I do not want my children in the schools in this area ( two years away) and I like it here . I recently filed a Ch.13 BK to get rid of a significant amount of debt and now I wonder if I should change my Ch.7 and Ch.13 to include my house . Now ( after the cap . 13 BK ) have no problems with any of my accounts money is not a factor here . I just do not like where I live and I want to be in a place where I feel that my children can play outside without worrying about them both . I considered renting, but this seems to be more of a task than I can handle at this point in my life , but the idea is not off the table . I consulted with my family and friends , and things have gotten worse ... I out 1/2 on one side and half on the other ... I'm looking for the pros and cons of this situation . Any advice will be great .
Some friends filed for chapter 7 bankruptcy in Ohio back in 2007. They thought they reaffirmed the mortgage because they were never notified otherwise. They have never moved and continued to pay the monthly mortgage payment. Recently they went to get a small personal loan and when the loan officer pulled the credit report they noticed the mortgage states "included in bankruptcy". They contacted the mortgage holder and was transferred to the bankruptcy, then legal department where they were notified to contact their attorney. We have left a message and are waiting on a return call from the attorney. The biggest question is since this has been "included in bankruptcy" will further damage be done to their credit by walking away from it now? The credit report shows the balance of $0 and they are worried that while mortgage holder is accepting payments they may be paying towards no potential ownership of the house. The auditor website still shows them as owners. We are not really sure where to go at this point? We are really just looking for some advice and direction.
So just be very curious lately , if someone passes in front of a police car when its movement or walk in front of your car and get beaten , what would happen to the person . Now I'm not talking about going in front of a police car is moving fast, but maybe in a parking lot or something , get it !
I asked Chapter 7 bankruptcy in 10 / 05. I was discharged on 03/06 . I filed under the old bankruptcy laws . Well my attourney apperentely never no longer practices law paperwork I had filled the redemption to keep my house . I've never missed a payment , even during bankruptcy , with all good intentions to keep my house . Well last month I went to qualify for a new home and sell the current home. I learned that Wells Fargo was not informing my credit bearau ! NIGHTMARE ! Because they are not reporting that I have a loan to buy a new house . I called Wells Fargo and I said I will help all I can do is refinance to get back home to my name . Now I feel so frustrated I just want to give back and keep going. I can do it legally and not redeem the residence during my bankruptcy ?
I wonder if there are laws , policies park barriers that prevent someone standing on the edge of the Grand Canyon .
if you can give me a summary ? thx ! PD is not for a report, you just read in school and were not allowed to read ahead and let me know what happens!
In the state of Florida , I will be punished ( for example , having to pay the difference in the loan if the bank auctions the house ) if I walk away from my house and let it go into foreclosure ?
i went bankrupt two years ago . i did not reaffirm the loan . However , payments have become so high that I can not afford to stay home . If I stop paying the mortgage and just walk away , that are considered part of my bankruptcy . or they may come after me to repay the loan .
does anyone no where i can some dairy products i,m unable to work only getting 588 per month rent and hydro took most of the the money thanks
I can not get a straight answer . I've been saving money and be very careful to pay all my bills on time since the discharge of my bankruptcy last year . We had 800 credit score when we were introduced , but my husband and I were laid off and could not afford the payments . Since I included my home in bankruptcy do I have to wait the three years required if awarded or only two ? Also when you start this time ? I hear it's from the time of the bankruptcy discharge .... but also heard that it does not start until the date on which the property is sold by the lender . I called runners and I get a different answer every time. Does anyone have any personal experience ? I live in California
someone told me that there are certain things in the terms of a mortgage that will prevent him including his home in a Chapter 7 , but of course you can not tell me why. I will meet with my lawyer again for a bit, so I can not ask at this time and I'm worried now because I want to list my house. all I can find to try to investigate these things online is the way to avoid foreclosure on a home. i do not want help . I want to get rid of my house. I can not afford. so, for anyone out there who knows about these things ... What prevents me from ever including my home in my bankruptcy ?