Is it dumb to move now?

[Allmixedup]

I am been going crazy looking for a rental. Well, I pretty much have one secured and ready to go next month, IF I want it. We are about 100 days behind on the mortgage. I haven't received anything official on foreclosure as of yet. We are filing bk as soon as we can get the money together for the lawyer. I kept thinking it would be better for the kids to just move and get on with everything. But now that I kinda have found a place I am not so sure....Hubby is layed off and I keep thinking it would almost be better to stay here until they kick me out...
I was just wondering if anyone else has or is going through this. I am scared to move out and move on...yet I also think it might be best for the kids to just get on with it. Any thoughts??

[JRScott]

Probably be better for them to move before school starts.

However if you have no way to pay rent reliably might be best to wait. 100 days late isn't probably enough to get foreclosure started depending on state and economic climate.

[Kpower]

We are in a similiar situation even though our kids are 15 mo and 1 mo old. They need stability in their lives I think. Our lawyer recommended we find an apartment asap I think it is because we are surrendering the house and we would need the expense going forward since we would not have the mortgage. I am not positive though. I will have to ask him next time we meet why he was so adamant when we could be living for free. I didn't want to do that anyway since I want to know that my kids have a place to live and not be rushed to find a place. We found a townhouse that is 425 less than our mortgage a month and actually has more sq footage. The best part is I don't have to cut the grass there or worry about any maintenence.

[Amy26]

Kpower, my lawyer also recommended getting an apartment... he told me the more expensive the better actually. I didn't need to take the means test but he needed to have a good sized rent payment on my future expense list since I could no longer list my mortgage. So, if you are looking like you have too much left over money, this could be why he advised that.

[Kpower]

We didn't have to take the means test either so maybe this is just a precaution on his part. I am actually kind of excited about moving to an apt. This place has a pool and playground and fitness center and more living space than our house. Plus we get an extra 425 a month. It will be nice to go to buy groceries without having to watch every penny or put it on a card.

[cupcake]

Kpower, my lawyer also recommended getting an apartment... he told me the more expensive the better actually. I didn't need to take the means test but he needed to have a good sized rent payment on my future expense list since I could no longer list my mortgage. So, if you are looking like you have too much left over money, this could be why he advised that.

This is exactly what I did; I got the nicest and most expensive apartment I could find so that I wouldn't have too much DMI.

Also, you will have an easier time finding an apartment right now 1) before you file for BK; and b) while your credit is still decent. I decided last month that I wanted to move and find a new apartment and the only way I was able to manage it was by having a co-signer. I looked at quite a few places and not a single one would rent to me without one. Some even had policies regarding bankruptcy, such as not entering into a least until 36 months post discharge.

So, get an apartment now. Get one you will not mind staying in for awhile if necessary and the most expensive one you can afford.

[needtobe]

I am going to surrender my house also. I will be filing in about 3 months. Can't I just use the standard exemption for rent on the future expenses instead of going to rent somthing now?

[denisejohn65]

Well...I already filed...but I'm now living with my boyfriend. When I filed I was still at the condo.Do you think this will create a problem for me?????Please answer! Thanks

[cwilliams]

I guess I have the same issues as Needtobe. We are giving up our house, but we don't have the money to move right now. We don't have the two months deposit to put down, rent a van, pack, etc. It's either pay the mortgage or pay the attorney at this point. Our mortgage is not that unreasonable so any good size apartment or rental house would cost about the same anyway. We were actually planning to start saving after we filed in July so we would have the money later for our move. So in our case is there a way we can use future expenses for rent that we'll pay later on since it's impossible for us to move now? This post is scaring me