BK 7 - Want to Keep House, question

[davids]

Hopefully, chap 7 is coming about, I want to keep my house, understand
that If I am current, I will keep my house, question is: payments is not
always ontime, sometimes 2-4 weeks, but always get caught up, the mortg
company does not saying anything about it now, but what about after I file?
will they come down on me much harder if payment isnt made quite on time?
sometimes paydays, do not work out with home payments...

just curious.

[lrprn]

Hopefully, chap 7 is coming about, I want to keep my house, understand
that If I am current, I will keep my house, question is: payments is not
always ontime, sometimes 2-4 weeks, but always get caught up, the mortg
company does not saying anything about it now, but what about after I file?
will they come down on me much harder if payment isnt made quite on time?
sometimes paydays, do not work out with home payments...

just curious.

DavidS, if you plan to keep your house in a Chapter 7 and you already know that you may have trouble making the payments on time, I have to ask the hard question: Why you are keeping the house since even after filing bk, it's keeping you right on the edge financially?

[davids]

house payments

DavidS, if you plan to keep your house in a Chapter 7 and you already know that you may have trouble making the payments on time, I have to ask the hard question: Why you are keeping the house since even after filing bk, it's keeping you right on the edge financially?

the key point is the payments are made, just not always on a timely basis'
why give it up now, I would have to live in an apartment uhhh, for about the same amount, I would settle for much less square footage...besides, wife would never give it up, unless she lost her job or something...she will kick my A$$ if i tell her to give up the house, just so we can live in a downgrade apartment, and will end up paying the same amount of money...

[Brokerthanbroke]

We have a similar situation. Renting would actually be about DOUBLE our house payment.

Of course we're on a deferred interest/interest only loan, which works for us right now.

Even if we paid the full amount (principal + interest), we couldn't rent a tiny 2 bedroom for what our 3 bdrm mortgage is.

So, we're keeping the tiny house. Just wish we'd upgraded to a larger house 2 years ago with the same killer rate when our credit was great! But then again...bigger house = bigger mortgage. Would probably have ended up filing sooner.

[tradewiz50]

the key point is the payments are made, just not always on a timely basis'
why give it up now,

The point of bankruptcy is this. A fresh start.