Posted on: 18th Jun, 2010 12:17 pm
Wondering if we have two mortgages, one in shortsale , equity line on the property that has a shortsale on it. Various credit cards totalling 10K..by the way the equity line is 30k.
We have a second home we live in and struggling to pay the first home mortgage. My husband is considering filing for bankruptcy..what do you suggest..we're way in deep and would like to figure out what to do.
We want to keep the second home as we can afford only one mortgage. Thanks
We have a second home we live in and struggling to pay the first home mortgage. My husband is considering filing for bankruptcy..what do you suggest..we're way in deep and would like to figure out what to do.
We want to keep the second home as we can afford only one mortgage. Thanks
if you already have one of your home on a short sale, continue to try to sell it. if you can't sell it then ask your lender for serious consideration of a deed in lieu of foreclosure before you jump into bankruptcy. exhaust all of your other possibilities first, then look at a bankruptcy last.
I appreciate your suggestion