We filed for chapter 7 about two weeks ago with an attorney. We want to keep our house and our car lease. We received paperwork from 1st mortgage about reaffirming and from Honda. What are the advantages and disadvantages to signing this paperwork. I still have concerns about being able to afford the house 1st and 2nd mortgage once the bk7 is done. we are getting rid of credit card and medical bills, but if something goes wrong in the house we have no savings or no way to pay. Also the 2nd mortgage is a balloon payment several years from now, currently we pay interest only. Our house appraised at 130,000 and we owe about 140000 if I remember correclty without digging out the paperwork. Thanks!
chrissy
chrissy