Originally posted by rjl0206
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To all,
In a middle of a BK 13 (29 months) now and want to walk away from house ($60K under) and relocate to Florida.
Spoke with BK attorney and gave me three options,
1
Convert to 7 IF possible.
2 Voluntary Dismissal then REFILE ch7 IN Florida
3 Modify/amend BK13 to surrender home
He just asked for 4 recent paystubs from both my wife and I and last years Tax Return and did not want bank statments nor another mean test (for now?).
My questions are:
1.) Can we stop Paying mortgage now or soon regardless of what my attorney wants to do in order to save up some cash for the move and possibly pay to convert our
2.) How long does our Mortgage servicer have until they can evict us if we default during a 13? (New Jersey).
3.) Will we have to do another full on means test now regardless if we try and Convert or Ammend/Modify BK13?
4.) IF we do end up ammending/modifying BK13 we will NOT be paying mortgage for a few months so as to move and secure rental in Florida, will the trustee take that unpaid mortgage money?
5.) IF we ammend and have to redo our means test will it be based on the new LOWER income / bills we will have in Florida?.
Thanks all, again this is for the state of NJ, Im under the impression that our Lender will try and forclose the house faster while we are in a 13 because we dont have many options.
In a middle of a BK 13 (29 months) now and want to walk away from house ($60K under) and relocate to Florida.
Spoke with BK attorney and gave me three options,
1
Convert to 7 IF possible. 2
Voluntary Dismissal then REFILE ch7 IN Florida3
Modify/amend BK13 to surrender homeHe just asked for 4 recent paystubs from both my wife and I and last years Tax Return and did not want bank statments nor another mean test (for now?).
My questions are:
1.) Can we stop Paying mortgage now or soon regardless of what my attorney wants to do in order to save up some cash for the move and possibly pay to convert our
2.) How long does our Mortgage servicer have until they can evict us if we default during a 13? (New Jersey).
3.) Will we have to do another full on means test now regardless if we try and Convert or Ammend/Modify BK13?
4.) IF we do end up ammending/modifying BK13 we will NOT be paying mortgage for a few months so as to move and secure rental in Florida, will the trustee take that unpaid mortgage money?
5.) IF we ammend and have to redo our means test will it be based on the new LOWER income / bills we will have in Florida?.
Thanks all, again this is for the state of NJ, Im under the impression that our Lender will try and forclose the house faster while we are in a 13 because we dont have many options.
we were able to live "underground" for those two years before filing and we had nothing other than income of an exempt pension, unemployment ins and ss. so we easily were able to file for a 7...oh, let me take that back. many of the atty's i interviewed with were so angry about our unemployment ins payment and how much we were making, that's because here in florida the employees don't contribute like we did for over 50 years in nj. so it made a few of the attys try to throw us into a 13 which was ridicules, as it was only temp income and what was so odd about florida is if lived in one county the UI payments were exempt and the next county over it wasn't.
what i did prior to leaving nj, was i hired the atty in florida. you shouldn't have a problem renting....but i would do it before you leave. we did that and secured everything since we were no longer paying our mortgage all monies were going into the move and the new rental property.
i'm not exactly certain how the new trustee would handle this situation. make certain where ever you move in florida you secure an atty who is very familiar with their districts trustees so you have an idea what to expect. at least that is what we did.
best of luck, i know this is a very hard time for you, buy you will make it through this. we did....and all i can tell you, is leaving nj was the best thing we ever did...we have never looked back. we now owe a new home here and hope to live happily ever forward!