Our Ch. 7 was discharged a few months ago.
We owe 220k on our first and 60k on an equity LOC (well, it's not credit anymore).
Our home is worth somewhere around 200 to 210.
We have continued making payments on the 1st and second, but did not reaffirm.
From a purely financial perspective, I know it's probably best to walk away.
But we also have to consider what is best for our family and our kids. They have friends in the neighborhood and in the local schools and my wife and I have also made a lot of friends. So we are very happy and stable here and really don't want to move, especially if it's to rent somewhere. Even being upside down, we really like knowing that as long as we keep making the payments, this is our house.
So other than just walking away and renting for a couple years, is there anything I can do?
We owe 220k on our first and 60k on an equity LOC (well, it's not credit anymore).
Our home is worth somewhere around 200 to 210.
We have continued making payments on the 1st and second, but did not reaffirm.
From a purely financial perspective, I know it's probably best to walk away.
But we also have to consider what is best for our family and our kids. They have friends in the neighborhood and in the local schools and my wife and I have also made a lot of friends. So we are very happy and stable here and really don't want to move, especially if it's to rent somewhere. Even being upside down, we really like knowing that as long as we keep making the payments, this is our house.
So other than just walking away and renting for a couple years, is there anything I can do?
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