I filed chapter 7 in 12/08 with house discharged. Had many problems with current home and would like to move out. Need advice.
I filed a Chapter 7 in Dec 2008. I petitioned to keep my house but everything was discharged and the house was not reaffirmed. I still make my monthly payments on time but have had so many problems with the house- I lost 1/2 of my home (Finished basement)when after a flood-the sellers did not disclose and hid black mold behind walls) 3 months to the day of purchase so I had been making due with 1/2 a home and gutted basement. I was recently remarried, now a family of 4 and would like to start over. I understand that I am not obligated to pay and that the bank can foreclose on the house. Should I stop paying and save money for a house or are there better options? We found a great property and are trying to get a home loan but don't know what to do with the current home.
Also, can someone advise if the house has already been discharged and it does foreclose will the foreclosure show on my credit report? Thank you for your help!
Any advice please?
I filed a Chapter 7 in Dec 2008. I petitioned to keep my house but everything was discharged and the house was not reaffirmed. I still make my monthly payments on time but have had so many problems with the house- I lost 1/2 of my home (Finished basement)when after a flood-the sellers did not disclose and hid black mold behind walls) 3 months to the day of purchase so I had been making due with 1/2 a home and gutted basement. I was recently remarried, now a family of 4 and would like to start over. I understand that I am not obligated to pay and that the bank can foreclose on the house. Should I stop paying and save money for a house or are there better options? We found a great property and are trying to get a home loan but don't know what to do with the current home.
Also, can someone advise if the house has already been discharged and it does foreclose will the foreclosure show on my credit report? Thank you for your help!
Any advice please?