I need some advice on these three subjects, we are in a situation to where we can not afford the home we are in any longer. We have these options above are they pretty much all the same on a credit report? We are doing a BK 7 or 13 no matter what, the question is what to do with the home? We do not want to stay in it and we are almost 3 months behind. Should we just include it in the chp7 (that is the one we are leaning towards) we want to keep our cars. If we do a foreclosure and include it in the BK how long should we expect before we need to be out of the house? Thank you
7 is the easiest to recover from, they can not evict until after the final judgement, stay in the house, free!!!! just be ready to move about 2 months after the judgement, save your money...do not go the deed in lieu route, you will have 3 days to move. I did a 13 and regret every moment of it, do a 7 make it go away and start over,
how long before the final judgement?Do they send you a letter stating you have X amount of days to get out? Thanks in advance!
I only have experiance with this in texas but here they must first serve you, give you 30 days , evict and then another 3 days before the sheriff comes, so you are looking about 4-6 months rent free from the time you file,
ask an attorney or do a search for lawguru to be sure, I am not a scum sucking attorney so I cant be sure, just know what happened to me.
that is o.k. that is where i am at, appreciate your help we should have a place to live in about 3-4 months so we will get served first, though then 30 days when we are served... sounds good just needed a timeframe...thanks served with a foreclosire right or served with what?
File BK- wait for Judgement from court 3-6 months( no mortgage pmts while waiting)- after judgement from court 1-3 months for eviction and service of papers- move -rebuild- put this all behind you- grow up and be responsible, never be late again-1 / 3 years- good credit again. save the mortgage payments in a savings acct or secured american pacific bank visa card Option 2- chapter 13, pay everybody back over 5 years, be broke all the time, try to rebuild(hard to do) keep house you cant afford, still broke- 7 years ok credit, STRESS Option 3 Deed in lieu, all of the above except worse and move right now( can you say homeless) remember bad stuff goes on credit fast, good stuff takes forever no brainer for me , I will never be late again and if I had it to do over it would have been a 7 never a 13
