Bankruptcy help!!

[superrrdaveee]

Here's my situation. I currently live in Florida and I own a home. I bought the house for $260,000 and is now worth $160,000. As you all know the market has crashed and I'm not able to refinance. I only owe $500 to my cc. I want to file chapter 7 so I can start fresh. My question is I will be leaving FL to head back to MA where I was originally. Does it make a difference of when and where I file?

[keepmine]

OK, I'm gonna address the question you had in your other post about $8K in the bank,etc.
Don't pull the bk trigger so fast. It's rare that a lender pursues a deficeincy balance.
Make your move and use the cash for living expenses, repaying friends,etc and revisit the bk question a year or 2 down the road when your life is more stable.

[JRScott]

If you move you'd use the FL exemptions rather than the MA exemptions. I think you'd have to live in MA for a year I think (I'm not sure I know its some specified time) before you could use MA exemptions.

Since you are moving, you might ask about a Short Sell. That's where the bank agrees to allow you to sell the property for less than the note and consider it paid in full. You'd have to check with a real estate agent and your bank to see how feasible it is. Considering your situation this might be a better move.