Posted on: 22nd Aug, 2009 01:39 pm
I am in a Chapter13 now,House is worth 250 I owe 287.And we need to move to Texas,And when there want to but a New Home In 2 or 3 years!
Now What is the best way to make this happen? chapter7,Foreclosure...chapter13,short sale...Please Help with any info?
Thx Chip
Now What is the best way to make this happen? chapter7,Foreclosure...chapter13,short sale...Please Help with any info?
Thx Chip
As of now you are on bankruptacy chapter 13 so you need to pay off the dues aroused through BK for the coming 3-4 years.
Now you want to move to another state so you are not interested in keeping the property.If your score is already low then I think you should declare chapter 7. but if your score is relatively good and you are hoping to get a new mortgage loan in coming future then personally i will suggest you to go for the shortsell.
Now you want to move to another state so you are not interested in keeping the property.If your score is already low then I think you should declare chapter 7. but if your score is relatively good and you are hoping to get a new mortgage loan in coming future then personally i will suggest you to go for the shortsell.
Thank you for your input.
Chip
for any query henceforth do come to mortgagefit and spread the word about this community once you happen to discuss this with your collegues.
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for any query henceforth do come to mortgagefit and spread the word about this community once you happen to discuss this with your collegues.
stay in touch