After Discharge-Abandon or Wait for Foreclosure

[LSUTiger32]

Well if there is no AC and you obviously need it to survive, you have to move on and rent something with some nice cold AC. Normally I would say stay in it until they throw you out so that you could stockpile cash but in this case you need a safe place to live.

[NoMoreRed]

Here's a brief history....

- Discharged 4/3/09.
- Home included in BK (did not reaffirm).
- Wife lost job and we decided to walk from the house in May.
- Last payment was on 3/30/09.

What I am wondering is....

Is it best to notify the mortgage company that we have moved and abandoned the property? Why?

or

Is it best to wait until the mortgage company forecloses on it's own? Why?

What would the pros & cons be in either situation?

We know it would have been best to stay in the house until they forced us out, however, the AC died and required $6500 to replace it. There would be no way to make it through the summer in AZ without it and we did not want to throw any good money at a bad investment. We tried for over a year to get a modification and never got anywhere with Countrywide/BofA.