Chapter 7 Bankruptcy Gambling
I will present the Chapter 7 bankruptcy, do I keep my house or let it close?
We have a first and second mortgage, the first is interest only arm, the second is a single fixed rate and restore within two years. Our current home value is approximately 270-275, and we have around 252. Our payments are $ 1,500, and reflects on the location of our house for about $ 1200. We will now move out of state after our bankruptcy. Our Counsel suggested that the thought of leaving our house will be closed. She said that is a big challenge for us to keep the house. In Washington to pay sales tax in the country, and real estate commissions to pay a total of 10%. Homeowners Benefit Tax is approximately $ 1,300 per year. Is it worth the gamble hold on to our house, hoping he will win enough equity in the two years before selling? Please advise, this is a very important decision.
request your lawyer … Personally, I let everything go.
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