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#1
07-21-2009, 11:21 PM
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 Surrendering Home AFTER Bk Discharge Hi all, Our bk was discharged June 28, 2007. We intended on keeping our home, maintained payments, never late. We did not sign a reaffirmation agreement, and our lawyer said that we could walk away from our home at any time b/c it was included in the bk. My husband is being relocated to Florida and the real estate market is awful, no equity in the house. We've got our house up for sale but no buyers yet. Could we just walk away at this point? Would this be considered 2 hits on our credit, or would it still show included with the bk? Thanks, IzzyB    |
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#2
07-21-2009, 11:21 PM
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| Re: Surrendering Home AFTER Bk Discharge
I've heard that it could be two hits and I've heard that the bank can only report it as IIBK. So who knows? We're doing the same. Discharged in August, intended to keep the house, but our Opt Arm is resetting and we've decided to just walk. Our Attorney actually advised us to do it this way in order to pass the means test. Crazy. It may be tough to get into another mortgage until after 2 or 3 years pass, but the market should start to turn around by then anyways. You'd be crazy to buy anything now anyways. Just try to secure a nice home to rent for a few years. |
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