We filed Chapter 7 on December 15th. We will be surrendering the house. While I know that we could stay here until they kick us out, we decided not to. Our gas/electric alone has been $650 a month! We found a nice house for rent in a good neighborhood with an eventual option to buy that we just couldn't pass up. Everything else we had started to scan through was a poor neighborhood (we have a young child), too expensive, or would not allow us to keep our dogs, so we jumped on it & will be moving later this month.
Because I needed renter's insurance because of the lease, the insurance company knows that I am moving out of the home & renter's insurance on a vacant home is quite expensive. Our attorney was of the mind that when we left we could turn the keys over and that would be the end of it. As of today, we will be missing our second payment and we had 2 mortgages on the house, so I know that it may take a bit of time for the foreclosure to happen.
If my husband happens to find & keep a job, the money won't be an issue, but he has bipolar with a number of depressive episodes and has never held a job for more than a year because he just doesn't go in on those types of days. That plus his huge run-up of credit cards put us in bankruptcy in the first place. In the new house we can live on my salary but will not be able to handle an extra-large insurance payment. Is there a way to work around this or some company that has insurance for such a condition at a reasonable rate. We are not in a high crime area & I know our neighbors will keep an eye out as well. I know I need to keep insurance but I don't want to go into debt again on a home that I'm not keeping.
Because I needed renter's insurance because of the lease, the insurance company knows that I am moving out of the home & renter's insurance on a vacant home is quite expensive. Our attorney was of the mind that when we left we could turn the keys over and that would be the end of it. As of today, we will be missing our second payment and we had 2 mortgages on the house, so I know that it may take a bit of time for the foreclosure to happen.
If my husband happens to find & keep a job, the money won't be an issue, but he has bipolar with a number of depressive episodes and has never held a job for more than a year because he just doesn't go in on those types of days. That plus his huge run-up of credit cards put us in bankruptcy in the first place. In the new house we can live on my salary but will not be able to handle an extra-large insurance payment. Is there a way to work around this or some company that has insurance for such a condition at a reasonable rate. We are not in a high crime area & I know our neighbors will keep an eye out as well. I know I need to keep insurance but I don't want to go into debt again on a home that I'm not keeping.
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