I am facing a forclosure and Chapter 7. How does the foreclosure go in relation to the 7? ps no equity! : (?
Question:
If you're upside down $800, then you're still losing that per month. Let it go.
I'd do what I could to sell it now, and avoid chapter 7. That'll stay on your credit record for 10 years, and make even buying a used car nearly impossible.
The big question is, why is it upside down nearly $800/month?
If it's something you can fix (like fix up the house for a small sum) then it might be worth keeping, however this doesn't sound like it's the case
If you'd be under by $800 a month because the real estate market has tanked, it might be smart to walk away from the house and rebuild your credit.
I know that losing a house is a big deal financially. I'm sorry that you are facing this type of ordeal. Know that if you do lose your house, you will have plenty of time to rebuild your credit (even with your bankruptcy) and buy back in while the market is still appealing to buyers.
You have a lot of options. Just keep your cool, and don't let any foreclosure help scam artists pull the wool over your eyes.
Take the chapter 7, it's not all that bad. Ask Donald Thrump.
Life after BK is what you make it to be, life with out it is hard. $800 in the hole per month?
I like Valerie L answer also.
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