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  • h72
    started a topic Surrendering Rental Property Dilemma

    Surrendering Rental Property Dilemma

    Hello all. We filed a Chapter 13 two years ago come May, and we are in a 3 1/2 year plan (first it was a 36 month, then additional creditors showed up). We decided to accelerate with a high $2600/mo plan based on our children's ages and when they will be coming out of school. Our filing eliminated...
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  • Cram Down Rental Property- Is there anyone doing this?

    Can anyone discuss their experiences wtih a cram down on a rental property. We will be filing BK, and am looking at doing a Ch 13. I know a Ch. 11 is a possibilty if we wanted to spread the payments out longer than 5 years. (and be in in longer!) Ch. 11 may have other advantages, not sure if not having...
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    Last edited by jr001; 06-23-2012, 09:07 PM. Reason: missed a few words

  • Should I file bankruptcy before foreclosure on rental property in CA (so confused)?

    I am so confused on what to do!

    During 2009 my job in CA was to be cut by 50%, so I decided to get a new job and ended up in Oregon working for the State. I didn't think about the consequences of moving out of state and rented out my house in Fresno and bought a new house in Oregon,...
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  • Does reaffirming rental property mortgage stop rental income from being in bk estate?

    We filed Chapter 7 BK on 2/15/11, and had our 341 meeting on 4/7/11, discharge is scheduled for 6/6/11. We have a rental property that we want to keep. Since we filed 2/15 the trustee is collecting the rent as part of our bk estate, March and April specifically.

    We want...
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  • Mom2Grlz
    started a topic The Decision & the Beginning

    The Decision & the Beginning

    Need some re-assurance.. Scared!!

    So here is the story:

    In 2002 we built a home for $116,000. In 2004 ish the Market increased with a value on our home of $219,000. We refinanced (stupidly) for $175,000 to take equity to upgrade things & payback $7,000 to Honda for...
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  • addisonsmom
    started a topic Got FREE Rent!

    Got FREE Rent!

    We moved into a rental house in November, following our CH 13 filing in August. We surrendered our home. We did a lot of work on the house, painted cabinets, every room, etc. I thought I was to start paying rent today, and the landowner informed me that we didn't have to pay until at least JULY for...
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  • Renting House IIB, Buying Second Home - Thoughts, Advice?

    This is a little lengthy so thanks to those of you that read it all and can contribute.

    Before filing Chapter 7 I had a rental property that was severely underwater. After getting laid off in a merger I let it go in foreclosure. We also had our primary residence that we lived in and...
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  • Want to rent a house. How to make sure it isn't in foreclosure?

    Does anyone have any suggestions to avoid being placed in that situation? Would it be tacky/wrong to ask for a current bank statement to verify it's caught up?
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  • In Ch 13 Plan now - just got a lien placed on a rental property during automatic stay

    I've got a weird situation. I had filed a CH7 BK last year that discharged the debt from a piece of rental property that I own but, of course, the lien remains. I subsequently filed a CH 13 BK to take care of some things that were out of reach of the CH 7. In between, the lawn on the rental property...
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  • chelan10
    started a topic What happens to the rental property?

    What happens to the rental property?

    Hi all - My husband has a rental property and he break even on the mortgage and rent payments but there is some equity on that house. I'd like to know if this will be a problem when we file bankruptcy?

    We won't be keeping our primary residence and it's a 80/20 loan.

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