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    #1

    Question

    OK, i have a couple.

    1. I am married, I filed seperatly, had 60k unsecured discharged. Reaffiremd House and 2nd mortage and auto loan

    Got discharged june 24, already getting CC offers, but i am relizing I am having a hell of a time with my bills...so my question is

    1. with such a current BK, would I be able to sell my home and buy a cheaper one?...I am at value on my home so if i get what it's worth, i could pay off my first and second...but i would hope to be able to buy another house but unsure this close to BK

    2. my wife has 30k unsecured....can we file again for her....I think dropping another 30K from our debt would look better than what we curretnly have......

    Thanks
    Tags: None
    #2
    is that 30k in your name too? you are stuck with the mortgages and car if you Reaffirmed.
    Chapter 7 07/30/2008
    341 09/17/2008
    Discharge 11/21/2008

    Comment

      #3
      Originally posted by TEW View Post
      is that 30k in your name too? you are stuck with the mortgages and car if you Reaffirmed.
      Yes but he can sell them. As long as the mortgage get's cleared. The Op seems to be getting tempted by those junk come on cards. When discharged they know you can't file for years again, so they gotcha.

      The Op has a good idea of selling the house to afford a lesser valued house. In today's real estate market, he could get a deal from one of the banks. I just talked to a real estate guy and he says he cannot compete now with the bank repos, and it is likely to get worse. It would work out IF he can sell his own house for what he has in it. 'Hub
      If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

      Comment

        #4
        Originally posted by AngelinaCatHub View Post
        Yes but he can sell them. As long as the mortgage get's cleared. The Op seems to be getting tempted by those junk come on cards. When discharged they know you can't file for years again, so they gotcha.

        The Op has a good idea of selling the house to afford a lesser valued house. In today's real estate market, he could get a deal from one of the banks. I just talked to a real estate guy and he says he cannot compete now with the bank repos, and it is likely to get worse. It would work out IF he can sell his own house for what he has in it. 'Hub
        Hub I didn't know this was your post. have you tried to sell a house in this market?
        what is the car worth? plus he has late fees?
        Chapter 7 07/30/2008
        341 09/17/2008
        Discharge 11/21/2008

        Comment

          #5
          TEW, technically Hub is right. The BK is over and the OP can try and sell the house and car if he wants to. And he did put a big IF in that last sentence about getting what you owe on the house out of it.

          Um, what late fees are you talking about? He said he's having a hard time not that he is late. Not yet at least.

          Paul, You will not be able to get anoth mortgage for at least 2 years after a BK. If you sell the house, you will have to rent for a while but it may be worth it if the rent is less, you can put some money into savings and then when you are ready to buy again, you can do so with a nice safety cushion. You also won't have to worry about any repairs when you are renting so you will save money there.

          And yes your wife can file and have her debt discharged. She would file the same way you did, married filing seperate.

          TS

          Comment

            #6
            Originally posted by ThreadsSnapping View Post
            TEW, technically Hub is right. The BK is over and the OP can try and sell the house and car if he wants to. And he did put a big IF in that last sentence about getting what you owe on the house out of it.

            Um, what late fees are you talking about? He said he's having a hard time not that he is late. Not yet at least.

            Paul, You will not be able to get anoth mortgage for at least 2 years after a BK. If you sell the house, you will have to rent for a while but it may be worth it if the rent is less, you can put some money into savings and then when you are ready to buy again, you can do so with a nice safety cushion. You also won't have to worry about any repairs when you are renting so you will save money there.

            And yes your wife can file and have her debt discharged. She would file the same way you did, married filing seperate.

            TS
            Read his other post
            Chapter 7 07/30/2008
            341 09/17/2008
            Discharge 11/21/2008

            Comment

              #7
              Originally posted by TEW View Post
              Hub I didn't know this was your post. have you tried to sell a house in this market?
              what is the car worth? plus he has late fees?
              If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

              Comment

                #8
                I didn't see his other post until after I posted here. But the rest of my answer still stands. He could try and sell the house and the car but whether he will get enough to pay them off is a whole other story altogether.

                TS
                Last edited by ThreadsSnapping; 09-03-2008, 05:51 PM. Reason: forgot a few words

                Comment

                  #9
                  Hub no need to apologize
                  selling the house is posable But is possible housing sales here went up 36% here but the prices went down 39% people are buying foreclosures and with 2 montages I would be looking at other options.
                  Chapter 7 07/30/2008
                  341 09/17/2008
                  Discharge 11/21/2008

                  Comment

                    #10
                    Thanks for some of the help....the 30k is my wifes alone, i think I might have to file BK on that one.....so if i can't make my house payment for the next 2 years i am screwed?....I would think they might see a value to move from a larger debt-240K...to a smaller one 160K..........which would free up my major problem whcih is the 2nd mortage...Thanks

                    Comment

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