Question reg letting house go back to bank.

[mesa777]

Question... I am at this point most likely to be filing for chapter 7 bankruptcy in the coming months.. my question is this... after I file my chapter 7 bankruptcy and once its discharged would I have any problems if at that time I was unable to make futher house payments and just stop making payments, save up money and move into an apartment before a foreclosure shows on my credit report?

I am at this time fully up to date with my house payments however down the road that could change here...

Once I file for the ch. 7 would I at that time be free to "dump" the house? I need this house in at this point in order to obtain a ch 7 due to my low income and high house payments.. HELP!!!!

Have $40K in credit card debt, own a vehicle that I just purchased, owe 56 more payments on that so no equity, house is losing value DAY BY DAY and an upside down on the house with a second mortgage and a first, to me I say everyday "why am I keeping this house"???? HELP!!

[lrprn]

If you want to walk away from the house, after you file state your intention to surrender the home inside your bankruptcy and stop making payments. Game over. Of course, if you are filing with a lawyer, run this plan by him/her first to make certain there's no strings attached in your particular financial situation.

Congrats on doing what needs to be done to get a truly fresh start. Hope everything works out for you, Mesa.