Walking away from house months after discharge

[kimba251]

What are the repurcushions if we do this.

We filed and had a chapter 7 discharged in August 2008. I think it closed in Sept 2008.

We did not reaffirm the house. We filed a notice of intent to keep the house because we originally were going to walk away.

On our credit report it says it is current and does not say included in bankruptcy.

Can we still walk away without having to owe anything? Our income has changed again and we cant afford it anymore.

Should my credit report say included in bankruptcy even though we are current right now?

[keepmine]

If you did not reaffirm, you have no liability for a deficiency balance.
I'd stay in that house and save money on rent for as long as humanly possible. Make 'em evict you.

[jeb]

If you did not reaffirm, you have no liability for a deficiency balance.
I'd stay in that house and save money on rent for as long as humanly possible. Make 'em evict you.

At present, several lenders have put a hold on foreclosures waiting to see what comes down from the Feds.

Even in a "normal" market, it can take months before you actually have to move out - all rent free.

Also, it appears - finally - that lenders are getting a LITTLE more interested in working with the homeowner than in the past so after you are 6 mo. or so behind you might get a good offer from them. (Don't take the FIRST offer - if they will deal, it will get better.) - jb