Rent or Mortgage?

[BROKENN]

When doing a projected budget for BK, you need to put either the mortgage payment (when keeping a house) or state exemption for your rent.

When surrendering a house, going through foreclosure etc., you can live there for quite awhile and save money. But what would you enter onto your schedule?

My trustee may ask about my rent payment amount since I am surrendering my house.... according to my atty.

So I am just wondering......

[GreenInkOnPaper]

A friend of mine filed 7 here in Oklahoma, and though he was surrendering his house, he did have to go ahead and move to a rental in order to claim a rent expense and qualify for the 7.

[BROKENN]

Yep, I can see that! I figure you could hold off BK for awhile too and stay.

[GreenInkOnPaper]

Yeah, you could live rent free, so to speak, and continue to save money. We are trying to "spend" every penny DH makes each month to prove he can't do a 13. What you are saying might make more sense for you!

[BROKENN]

No, I too am spending every penny on living expenses. And it isn't hard right now!!!

I just saw a whole lot of posts about staying and then a bunch on showing your future budget and wondered about the conflict. Yep, each is a personal plan I think.