Compare Mortgage Quotes

Lasteele8 · Joined: 09 Jun 2009 Posts: 1 1.38 Dollars($)

My home is in fourclousure and has a sale date i have tried everything to save my home even loan modification and that ended up with the paymeant being more can I still file bk to buy us some more time to stay in the house?.

adonis · Posted: Wed Jun 10, 2009 12:13 am Post subject:

Hi Lasteele,

You can definitely file bankruptcy. However, you should consult a bankruptcy attorney first. Moreover, you will have to decide the type of bankruptcy you want to file - Chapter 13 or Chapter 7. If you want to file Chapter 7 bankruptcy, you'll have to pass the Means test. If you do not qualify the Means test, then you'll have to file for Chapter 13.

SSPINGARN · Posted: Wed Jun 10, 2009 6:27 am Post subject:

yes you can still file it should stall the bk but contact an attorney

haridas_badhe · Joined: 11 May 2009 Posts: 59 0.06 Dollars($)

O' thats big problem. Try to collect money from friend or relative and save your house this is one option .

second you can declared bankrupcy
For that you need to make file for that to show you are unable to make money.

Thanks

Guest

I am gonna walk from house 3 months late on mortgage friend says bankruptcy is worse than forclosure dont want house what do I do?

Guest

wife is on mortgage of apartment house, husband is not. Wife is not on home mortgage no shared accounts wife wants to walk from apt. house, Lawyer says it will not affect husband. Lawyer reccommends bankcruptcy wife wants to walk and be forclosed what is the better reccommendation?

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

hangman

Your lawyer is correct

If wife is the only person on the aprtment mortgeg, it will not affect husband.

If to file for BK or not, you need to consult a attorney

Good luck and feel free to ask

jameshogg · Posted: Mon Aug 17, 2009 9:12 pm Post subject:

Hi,

To tabitha,

Walking away from the property will lead to a foreclosure. This will lower your credit score by around 200-250 points and would remain on your credit report for the next 7 years. Bankruptcy, on the other hand, will remain on your credit report for the next 10 years. The credit effect would be same. So, it is always suggested that bankruptcy should be your last option. As you're delinquent on your mortgage payments, it would be better if you could negotiate with your lender for a deed in lieu of foreclosure.

To hangman,

If the husband's name is not mentioned in the property deed, then his credit will not get affected. Walking away from the property will initiate a foreclosure process. As I've suggested earlier, it would be better if you could inform your lender about your hardship and apply for a deed in lieu.

Thanks

Property State:
Property Type:
Credit Rating:

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

home fourclousure