Question about house surrender in chapter 7 >>

[mesa777]

I need to have another question answered please... I am most liked going to file ch 7 in the next few months, question is this...IF I use my home in the means test calculations, have a first and second mtg, am I able to file the bankruptcy and once it is discharged stop paying and find an apartment or lower cost house to rent???? I am very confused with this and need some responses. I dont think I will qualify for a 7 without my home payments being added to the means test calculations.

Also when and if I stop paying my house payments should I still pay the hoa fees???

Thanks!!

[cleo1357]

See this thread:

http://www.bkforum.com/showthread.php?t=22502

You may be able to use your home in the means test regardlesss of whether you intend to surrender the home, depending on your district. I would consult your attorney. You will probably want to include both mortgages in the bankruptcy if you do not intend on keeping the home. If you are not behind already, foreclosures take a long time, especially with the backlog lenders are facing. in that case, you would be able to live several months for free in your home. Be prepared, as securing a rental after filing may be more difficult than you expect if they pull credit. As far as the homeowners association, why not list them as a creditor in the bankruptcy?