I just want to thank all of you that have posted answers to my questions !!
here is yet another question,
We are current on our mortgage ( owe 128,000 ) and credit cards ( approx 50,000 ) . my husband is laid off , I am working although i dont make very much money ( approx 25,000 yr ) while my husband is currently getting the max unemployment per week which is 539.00 and he still has about 7 months to collect given all the extensions right now, we all know that the checks WILL end and there is no guarantee he will find work anytime soon . when we file chapter 7 even though we are current on the mortgage can the trustee determine that there wouldnt be enough money to pay the mortgage each month and force a liquidation and sell it ? bottom line does the trustee decide what we keep even though we are current , the truth is without paying the credit cards each month we would be able to make the mortgage , it would be tight but we could do it. but since we dont have to claim his unemployment as income the monthly income will look super low and im afraid the trustee will say noway can you make the mortgage payments and it has to be sold . We would have NOWHERE to go and bad credit to boot and my little income noone would rent to us !!
we will get the 40,400 ( for both of us ) equity exemption and we owe 128,000 on the house and i would say its worth maybe 140,000 and our payment is 920.00 per month which rent in this area is about the same . i guess what im asking is does the trustee make all shots ??
here is yet another question,
We are current on our mortgage ( owe 128,000 ) and credit cards ( approx 50,000 ) . my husband is laid off , I am working although i dont make very much money ( approx 25,000 yr ) while my husband is currently getting the max unemployment per week which is 539.00 and he still has about 7 months to collect given all the extensions right now, we all know that the checks WILL end and there is no guarantee he will find work anytime soon . when we file chapter 7 even though we are current on the mortgage can the trustee determine that there wouldnt be enough money to pay the mortgage each month and force a liquidation and sell it ? bottom line does the trustee decide what we keep even though we are current , the truth is without paying the credit cards each month we would be able to make the mortgage , it would be tight but we could do it. but since we dont have to claim his unemployment as income the monthly income will look super low and im afraid the trustee will say noway can you make the mortgage payments and it has to be sold . We would have NOWHERE to go and bad credit to boot and my little income noone would rent to us !!
we will get the 40,400 ( for both of us ) equity exemption and we owe 128,000 on the house and i would say its worth maybe 140,000 and our payment is 920.00 per month which rent in this area is about the same . i guess what im asking is does the trustee make all shots ??
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