Posted on: 09th Jun, 2009 09:54 pm
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?.
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.
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.
yes you can still file it should stall the bk but contact an attorney
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
second you can declared bankrupcy
For that you need to make file for that to show you are unable to make money.
Thanks
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?
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?
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
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
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
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