This blog posts explains the strategy and risks involved
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Thanks HHM! That's a very interesting blog!Originally posted by HHM View PostChapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.Comment
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Thats very well written and comprehensive. I think from a strategy standpoint the larger the 2nd and the deeper underwater the 1st the balance tilts more ih favor of the homeowner. If one has the means to save the amount you would pay the 2nd post Ch-7 it could be used to settle with the bank or JDB or used toward the down payment on another property down the road should someone initiate a forclosure. It all depends on how much risk you can stomachOriginally posted by justbroke View PostStopped Paying CC's 2/2009. Retained Attorney 1/10/2010 Filed 1/23/2010. Discharged 5/19/10 $187K CC, $240K 2nd,$417K 1st, No asset Ch-7Comment
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