Need advice

[wannaknowleo]

I hope my seasoned 13 folks can help me. I have four more years to go in a confirmed plan and I filed to save my home, pay back arrears, back taxes, 2nd/3rd lien strip etc. In hindsight, I should have filed chp 7 and gave back my house at that time, but I didn't because we didn't want to disrupt the kids during the middle of the school year with changes. So my questions are:

1. The value of the home is way under and I will still be under four years from now. Can I surrender the home at the end of my plan? Does this even make sense to do so late in a chp 13?

2. Will this adversly impact my credit score after being so close to completion? Is it considered forclosed and creates new dings on the credit report if I can do this?

3. Will any balance owed to my mortgage company be discharged when I complete the chp 13 with a surrendered house at the end?

I would love to not have to sell the home at the end of the chp 13 or have to ask and beg the bank for a short sale. The chp 13 will allow me to surrender the home back to the bank. I'm just trying to stategize and figure out the best course of action over the next four years that will leave me in the best financial picture at the end of this journey.

[MOMof3]

Talk to your attorney, but I'm fairly sure you can surrender it now and walk away. Yes, you will probably get dinged on your credit again, but you filed a chapter 13, so your credit is pretty much trashed anyway. You can either modify your 13 plan or convert to a 7. You need to get with your attorney and go over your options!