Moving? What do i do

[dolphindan1]

Ok...We are only 4 months into our Chap 13 and have been offered to move into my moms house...No bills, no mortgage etc...We dont want to have the house foreclosed on but also dont want to continue making Chap 13 payments...He only coverd our 1 car about 8000, and the arrrears on the house about 12000, and a few hundred dollars in Dr bills...What is our best course of action? Is a loan modification on home, including the arrears included in Chap 13, possible? Will the mortgage company even consider that? What happens to the car? Do we just continue payments with car company?

What is my best course of action? just kinda confused what to do?...Do I go ahead and put house on sale? Do I just quit payments and move and not worry about it all as my credit is screwed anyway?

Any help is appreciated

[forgotten]

Were you only in a 13 to save your home? Can you convert to a 7 now that you don't want to keep your house?
I don't understand why you would want to modify your home loan if you don't want to keep the home and are moving out?

[dolphindan1]

I would like to keep it till it sells..not just forfeit it

[despritfreya]

I would like to keep it till it sells..not just forfeit it

Are you implying that you have equity? If so, sell it. If not, walk away. Trying to hang onto the ball and chain for no reason other than you would like to keep it so you can sell it makes no economic sense unless you can make a few bucks off the sale and you can sell in a relatively short period of time.

Des.

[dolphindan1]

Yeah...about 20-30k...I believe...

[despritfreya]

Yeah...about 20-30k...I believe...

Then get the property listed and sold ASAP. Get your $$ out of it and move on.

On Monday, find a realtor. Contact your attny to get the realtor appointed by the Court and go on from there.

Des.

[forgotten]

Yeah...about 20-30k...I believe...

Before or after your arrears of $12k? If before, and the 20k number is from an apprasial, you probably don't have much chance of selling it anytime soon (and you will continue to make payments until it sells). If you really think you can make a quick sale and profit (after the realtor fees, etc) then go for it.

[Sammie]

I have a question? If the OP is able to sell the home and make a profit, wouldn't the profit go right to the Trustee toward his/her debt? sammie

[falken]

I have a question? If the OP is able to sell the home and make a profit, wouldn't the profit go right to the Trustee toward his/her debt? sammie

I get the impression OP is going to dismiss their CH13 case if they decide to sell.

[Floridagail]

I think I would stop paying the 13 payments and let it get dismissed. Look on zillow or other sites to see what your house is worth. If upside down or not sellable for what owed include realtor fees and a profit, Since you are behind, why bother selling it for Bank?
I would just live there and let it be forclosed on. Save your money for how long you can. If your car is included then you would have to consider that by paying it or letting it go. Do you qualify for 7 later?