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Trying to keep our home need thoughts

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    #1

    Trying to keep our home need thoughts

    Hey everyone we own 4 homes one of which we live in we can make the payment still but that would be the only one since renters are paying there rent!

    My question is should we keep struggeling to make this house payment as well? Or start to miss and try to work it out through the BK to keep the house and reaffirm the loan?

    We are streching to make the payment now since my work is very slow but can make it! Let me know your thoughts on what we should do...

    We would really like to keep this home if possible but need some answers! Meeting with lawyer on friday of this week! Just need this now so I can sleep alittle better!
    Converted to Chp 7 in July 341 AUG 3rd Went well!!!
    Trustee Paid Off Looking At Discharge!!! Might Be A Good After all!
    Discharge Date 10/02/09 Counting the days down
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    #2
    If you're planning to file Ch 7, you're gonna have to be current at the time of filing in order to keep the house. Ch 13, you can put your arrears into the Plan.

    Whether or not you need to pay your mortgage really depends on which Ch of BK you plan to file.
    Filed Ch 7 - 09/06
    Discharged - 12/2006
    Officially Declared No Asset - 03/2007
    Closed - 04/2007

    I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

    Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

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      #3
      I see I am looking at BK7 since we have multi mortgages We will figure this out friday!
      Converted to Chp 7 in July 341 AUG 3rd Went well!!!
      Trustee Paid Off Looking At Discharge!!! Might Be A Good After all!
      Discharge Date 10/02/09 Counting the days down

      Comment

        #4
        Originally posted by 253BK View Post
        I see I am looking at BK7 since we have multi mortgages We will figure this out friday!
        Not necessarily. The payments to those other 3 houses will not count since you want to get rid of them or surrender..at least in my case that was the issue.
        Filed: 6-7-2010 341: 7-15-2010 DISCHARGED: 9/17/2010

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