what's worse...

[worried]

What's worse on credit report or if I want to buy again...

bankruptcy then foreclosure (me right now but no sale date till April)

or

bankruptcy then foreclosure then bankruptcy again

or


doesn't matter.


Trying to decide if I want to keep the house and also if I file bankruptcy again can I buy another house in a year closer to work (would be ideal). I read on another forum that you can if you make all payments for one year and no late payments.

And when they say for instance to wait one year from foreclosure do they mean from the judgement date or from when they sell it what if it doesn't sell.

Thanks

[lrprn]

Your credit scores should not be what is making this decision for you. Your current and anticipated income vs expenses and what's best for your family in the long run are the best decision-makers here.

If you are seeing a bankruptcy in your near future after you recently filed, then you have more to worry about than when to surrender your house. You need to either make more money or reduce your expenses.

Our post-filing mortgage experts in the forum say that after filing you should expect to wait at least two years with a sterling payment record before you can get financing that won't be legal piracy due to the ridiculous interest rates you'll get.

[worried]

actually my mortgage is cheaper than renting another house but again with owning you have repairs. yes I have a big decision to make. I just hope if I do choose to rent they will not do a credit check. If that's what it comes down to and I don't get a place then it will be bankruptcy again.

[MomIcantFindmy]

I wonder with the collapse of the subprime lending market if we will be able to find a mortgage,and if we can, with a fairly decent interest rate before 7 plus years since our BK will have past. I wonder about that often.