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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Bankruptcy, Foreclosure, High debt on house.... Posted by NB on January 27, 2002 at 10:19 AM We have had some financial difficulty and are working on paperwork to file chapter 7 bankruptcy. Even with our regular debts discharged we won't be able to afford our house payments anymore. We have a first mortgage for the appraised value and a second for and extra 25% above the value of the house. Do we include the house in the bankruptcy and if we do will we still owe on any deficiencies since it went through ch 7 bankruptcy or not? Can we stay in the house until the bankruptcy is over, to save up some money to move? OR should we move out ASAP and not make payments after the move? Also, how hard is it to find a place to rent with a bankruptcy and possible foreclosure on the credit report? If we move before the foreclosure and bankruptcy then it won't be on our credit report yet but we will have bad credit anyway for not making credit card payments. Should we wait a little and save up some money but move before the bankruptcy is finalized? Or does it go on your credit report as soon as you have filed? We live in Washington state. Any help or advice is GREATLY appreciated. Follow Ups: Re: Bankruptcy, Foreclosure, High debt on house.... NB 10:01 AM, 01/28/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : We have had some financial difficulty and are working on paperwork to file chapter 7 bankruptcy. Even with our regular debts discharged we won't be able to afford our house payments anymore. We have a first mortgage for the appraised value and a second for and extra 25% above the value of the house. Do we include the house in the bankruptcy and if we do will we still owe on any deficiencies since it went through ch 7 bankruptcy or not? : Can we stay in the house until the bankruptcy is over, to save up some money to move? OR should we move out ASAP and not make payments after the move? : Also, how hard is it to find a place to rent with a bankruptcy and possible foreclosure on the credit report? If we move before the foreclosure and bankruptcy then it won't be on our credit report yet but we will have bad credit anyway for not making credit card payments. Should we wait a little and save up some money but move before the bankruptcy is finalized? Or does it go on your credit report as soon as you have filed? We live in Washington state. Any help or advice is GREATLY appreciated. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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