Likelyhood of mortgage company hitting me with a judgement

[outofwork11]

Real quick synopsis. My husband and I went to see an attorney regarding BK and was given the following issues. The attorney said we cannot file now as we have no housing expense so we do not qualify (we stopped making the mortgage payments as we cannot afford them) The attorney said to get an apartment but with both of us unemployed and having mortgage lates we cannot get anything. My husband is seasonal and will be going back to work in April so the attorney told us to wait until then to file as we can then get an apartment. But then our income will be too high. Which would be fine but as soon as summer comes we will be paying $1000 a month in child care and come Nov my husband will be laid off again. It appears that I will be getting a new job, but the pay is $10 an hour less and will basically will only cover child care during the summer and when my husband is laid off we will be in serious trouble. We can swing the CC payments (hopefully, depending on what they do with our interest rates) but I am terrified that the mortgage company or mortgage insurance company will file a judgement against us for the losses on the house and according to the attorney they can renew the judgement every 10 years for life. The judgement is not an issue now as we have nothing to take, but it is scary to think this may be hanging over our heads for life. I will be terrified that everytime we get a check that here will be a garnishment or our income tax returns will be seized... Does anyone have any experience with Countrywide and MGIC and whether they will pursue this? It is a 1st mortgage in Michigan which allows for judgements... What do you think will happen and how long until we know if they will try to get a judgement... Is there a timeline in which they have to request the judgement or do they have the full 10 years to request it.... I am absolutely terrified and have literally not slept since we talked to the attorney.

[StartingOver08]

You should see another attorney. I also had stopped paying my mortgage when I filed BK. My attorney used the rent exemption that was allowed for the means test.

It is possible that this attorney wants you to have income coming in regularly before you file so you have the ablity to make it after the BK. If you file now you discharge the debt, but if you do not have enough income now, you may incur new debt with no way to discharge it after the filing. This is something to discuss with your next attorney interview. Have several - the initial interview is usually free.