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What are my options?

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SEaton444 Joined: 08 Feb 2011 Posts: 1 1.38 Dollars($)	Posted: Tue Feb 08, 2011 9:11 am    Post subject: What are my options? Like 0 Dislike 0 We short sold our house in 2009. It did not cover the line of credit for 18,000 on the house. We agreed to pay 35,000 over the next 20 years interest free for the first mortgage in order to short sale. We are being sued for the line of credit. We have tried many times to negotiate with the lender for the 18,000 offering 5,000 cash and then being willing to do monthly payments after that. They will not agree to anything we offer and want 14,500 by the end of the month. We got the first lawsuit thrown out because they filed it in the wrong county. So my question is what are the best options? We are thinking bankrupcy because the bank is not willing ot work with us.
jerry Moderator Joined: 17 Oct 2005 Posts: 2708 Location: MICHIGAN 429.63 Dollars($)	Posted: Wed Feb 09, 2011 1:51 am    Post subject: Like 0 Dislike 0 Hi SEaton, You can file bankruptcy and include the home equity line of credit in it. Once you do so, it will get discharged and the lender won't be able to come after you for the debt. Thanks, Jerry
Karmapolice Joined: 13 Feb 2011 Posts: 20 3.50 Dollars($)	Posted: Sun Feb 13, 2011 1:27 am    Post subject: Like 0 Dislike 0 I would also suggesting you file bankruptcy and include this information and then as the above posted mentioned, They then won't be able to come after you.. I wish you the best of luck with your issue! _________________ mortgages for people with bad credit available here. Instant cash out refinance quotes USA wide.

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