If I'm currently paying $2,550 a month on 2 mortgages and a plan payment to stay in a house in Chapter 13, with barely anything left over. Wouldn't going Ch 7, giving up house and starting over be better?
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Which is more important to you? Having the house, or having money in your pocket? You could also consider selling the house, and using the profits to pay off your debts. Versus simply foreclosing on it via BK. Do the math, and see if selling it would be more beneficial towards your situation.
Good Luck!The information provided is not, and should not be considered legal advice. All information provided is only informational and should be verified by a law practioner whenever possible. When confronted with legal issues contact an experienced attorney in your state who specializes in the area of law most directly called into question by your particular situation. -
Todd:
At this point, I think the money in my pocket. Reason being we also have a 3rd mortgage on house. 1st and 2nd mortgage would be lucky to be covered if we sell.Comment
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