sinkingfast et al--I need your help!

[debtisbad]

I have been a regular on here for over a year. I filed bk in May 06, and did not reaffirm the house. I was discharged in May 06. My husband (soon to be ex, after this) told me he was paying the mortage because I am in nursing school. I got a call from the bank that the payment was 3 months late. The house is in my name only, so husband made the comment that it can not hurt him one bit. I called a realtor to list the house tommorrow, but really with all the lates there is no equity. Since I did not reaffirm, should I just vacate the house (I am moving out of state)? OR should I let a realtor list it and find a buyer, and maybe that would bring more $$ to the mortgage company. What should I do? Help!!!!

Debt is bad (husbands can be bad too, I just learned the hard way)

[SinkingFast]

What State DIB??

Check your BK paperwork. Maybe even call your attny. Be absolutely sure your personal responsibility for that debt was, indeed, Discharged in the BK.

One thing I would suggest doing is call your Lender.

They might put you thru to Loss Mitigation. Your acct may have already been moved to the Foreclosure Dept. Either way, you need to know where you are in the process. If nothing else, that may give you an idea of how much time you have.

Also, ask for a Pay-Off. Depending on where your loan is in the process, the fees that get tacked on can be more or less. But if you know the Pay-Off, that can help you decide whether to bother listing or not.

Won't hurt none to call a few Realtors. Get them to run a Market Analysis for you. In the paperwork they provide, they'll also list out all the fees and their commission. How much it's gonna cost you to sell. That way, you'll know if you can sell the house for enough to pay the Lender and all costs to sell.

Then if you have time, and wiggle room financially, you might try selling. If not, and you aren't liable for the debt, give the house back and move on.

[debtisbad]

thanks sinkingfast!!!! Always glad to have your help! I am just south of you in Indy. Moving back to the warmer weather and blue skies. Plus, my husband has shown his true colors with not paying on this. I lost my downpayment of about 10k. Thanks again!

Debt is bad (really bad)