I am addicted to this site! I read it everyday. I never get to post because I can never remember my password! I can't find infomation on a similar situation anywhere, I'm not sure if the post is in the right place so feel free to move it if it's not. Thanks.
Background
After the death of two siblings within six months one to murder and the other's inability to cope with the situation. We inherited. three small children to raise, funerals to pay for etc... Our family went from four to seven literally over-night. We had two teenagers at home. The kids were 8, 4 and 2 at the time. I felt blessed to have a part of my siblings and proud to be able to be in the postition to "afford" to do it for them. Then I lost my job and the stress of everything nearly caused a divorce aka two households set up financially anyway. No Dads, one totally walked away giving up his parental rights (JERK) and the other living rent free somewhere with bars and locks on the outside!! Anyway we perservered with the small exception of draining everything we had in savings and my 401k ( I know!! ) Credit cards became the only way to survive. People always assume that when a parent passes away their children get survior benefits from SS. My siblings were young one in their 30's and one in their early 20's. Neither worked Not enough ss credits to qualify their childeren for benefits so We have no "help" which is okay. That is just a question answered by me.
The whole thing happended so quickly, that there wasn't really time to react.I was literally on auto-pilot for two years. I don't even remember my youngest graduating from high school.
We had never had any problem paying our bills, great credit score we could buy and charge anything we needed blah,blah... credit cards are evil, but without them, I would have had three naked kids that would have been living on peanut butter sandwichs! Haven't used one, let alone applied for one in over a year. Anyway, We were forced to file chapter 7 last winter. Things went relatively smooth,with the help of this forum and a few questions, I didn't worry too much. We were discharge in May everyone went back to work, we were able to get back on our feet everyone is doing great, life was good and I know did the right thing filing. It allowed all of us to move on with one less stress, so we thougt. On pacer it said we were no asset although there was never a trustee report filed, but as of this posting we are not closed we were discharge nine months ago. Our attorney told us not to worry about it, paper work or whatever.
Well then a few months ago the trustee called personally and demanded that a realtor come and look at our home to see if there was equity (we gave them honest value at the 341) My husband put him off until our attorney got back in town and the guy called a couple more times before he got back. The realtor came and went. Our house is trashed on the inside from not having finances to keep it up, lots of repairs need to be made which aren't going to be cheap before anyone could even think about making a profit. It looks nice on the outside, but stay on the porch if you come over! Now the dude seems to have dissapeared again. Nothing on Pacer added since the end of May.
We do have equity in our home, not sure how much though? I know it's over the exemption by a significant amount if you go by the internet sites that value homes in our area.
Question 1 ) Are those sites estimating your home value by average condition and average of what homes sell for in your area? We weren't able to qualify for a home equity loan by the time we thought of it, our credit was THAT bad.
Question 2) Is it possible to buy out the equity and pay the trustee the amount over the exemption and keep your house? We may be able to do that with the money we have been able to save since and our family's help. All I can find is "you will lose your home". Is it the trustee's decision to take the payment or is it an automatic your outta here, go live under a bridge??
I know this is long, and kind of scattered. sorry. I just don't like to talk about what happened and if anyone remotely knows us they will know who wrote it, because it was kind of all over the news in our town with the murder and all. The whole house situation has just been buiding up with no answers except, don't worry about it from our attorney and that isn't an option for me. I want answers and I'm about to call the trustee myself!! I have three little ones to worry about.
I don't ask for anyones sympathy and I'm not a fabulous person for it. I loved my siblings and knew what I had to do reguardless of the consequences. Anyone out there would do the same thing put into the situation. I told my secret because there was just no way to get all the facts of why and how this could happen when your sitting on equity and not using it to save yourselfs.
Thanks for any in-put or knowledge on my situation.
Background
After the death of two siblings within six months one to murder and the other's inability to cope with the situation. We inherited. three small children to raise, funerals to pay for etc... Our family went from four to seven literally over-night. We had two teenagers at home. The kids were 8, 4 and 2 at the time. I felt blessed to have a part of my siblings and proud to be able to be in the postition to "afford" to do it for them. Then I lost my job and the stress of everything nearly caused a divorce aka two households set up financially anyway. No Dads, one totally walked away giving up his parental rights (JERK) and the other living rent free somewhere with bars and locks on the outside!! Anyway we perservered with the small exception of draining everything we had in savings and my 401k ( I know!! ) Credit cards became the only way to survive. People always assume that when a parent passes away their children get survior benefits from SS. My siblings were young one in their 30's and one in their early 20's. Neither worked Not enough ss credits to qualify their childeren for benefits so We have no "help" which is okay. That is just a question answered by me.
The whole thing happended so quickly, that there wasn't really time to react.I was literally on auto-pilot for two years. I don't even remember my youngest graduating from high school.
We had never had any problem paying our bills, great credit score we could buy and charge anything we needed blah,blah... credit cards are evil, but without them, I would have had three naked kids that would have been living on peanut butter sandwichs! Haven't used one, let alone applied for one in over a year. Anyway, We were forced to file chapter 7 last winter. Things went relatively smooth,with the help of this forum and a few questions, I didn't worry too much. We were discharge in May everyone went back to work, we were able to get back on our feet everyone is doing great, life was good and I know did the right thing filing. It allowed all of us to move on with one less stress, so we thougt. On pacer it said we were no asset although there was never a trustee report filed, but as of this posting we are not closed we were discharge nine months ago. Our attorney told us not to worry about it, paper work or whatever.
Well then a few months ago the trustee called personally and demanded that a realtor come and look at our home to see if there was equity (we gave them honest value at the 341) My husband put him off until our attorney got back in town and the guy called a couple more times before he got back. The realtor came and went. Our house is trashed on the inside from not having finances to keep it up, lots of repairs need to be made which aren't going to be cheap before anyone could even think about making a profit. It looks nice on the outside, but stay on the porch if you come over! Now the dude seems to have dissapeared again. Nothing on Pacer added since the end of May.
We do have equity in our home, not sure how much though? I know it's over the exemption by a significant amount if you go by the internet sites that value homes in our area.
Question 1 ) Are those sites estimating your home value by average condition and average of what homes sell for in your area? We weren't able to qualify for a home equity loan by the time we thought of it, our credit was THAT bad.
Question 2) Is it possible to buy out the equity and pay the trustee the amount over the exemption and keep your house? We may be able to do that with the money we have been able to save since and our family's help. All I can find is "you will lose your home". Is it the trustee's decision to take the payment or is it an automatic your outta here, go live under a bridge??
I know this is long, and kind of scattered. sorry. I just don't like to talk about what happened and if anyone remotely knows us they will know who wrote it, because it was kind of all over the news in our town with the murder and all. The whole house situation has just been buiding up with no answers except, don't worry about it from our attorney and that isn't an option for me. I want answers and I'm about to call the trustee myself!! I have three little ones to worry about.
I don't ask for anyones sympathy and I'm not a fabulous person for it. I loved my siblings and knew what I had to do reguardless of the consequences. Anyone out there would do the same thing put into the situation. I told my secret because there was just no way to get all the facts of why and how this could happen when your sitting on equity and not using it to save yourselfs.
Thanks for any in-put or knowledge on my situation.
Bankruptcy Wizard
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