Amending a filed petition question

[buddha]

My question is that we have filed our petition a few weeks ago for a chapter 7. We had to mark on there what secured debt we wanted to keep, and we wanted to keep our home and our car. We now are starting to think that maybe we should have just given up our home. Does anyone have any experience as to the process of amending the filed petition? Like how much it costs, how to go about it, etc? Or can we just say at our 341 meeting that we changed our minds and want to get rid of the house as well? I would like your advise before I ask my lawyer because although he is ok I think he will tell me whatever is easiest for him and not what is best for me. Any help would be greatly appreciated.




This is my first post, however I have been lurking for months because I was getting ready to file (actually first I was getting the courage to file!) and I am happy to say me and my wife filed a couple weeks ago and I am so happy to finally have the ball rolling. I am very thankful for those who have posted so much good information on this site. Without it I would have been lost.

[DebtEnder]

Well you can amend your statement of intentions if you desire. I think the court cost is $29, however I don't think you have too, or should.

If you have decided after filing that you no longer want to keep the house that you at the time of filing wanted to keep it you can do as I am doing. I was in the same thought as you, I filed and shortly after the 341 meeting some things came up in the neighborhood that convinced me I should not bother to live here any longer, at least not if I'm paying for it. I did not amend anything, I just stopped paying. As I'm already discharged the bank can begin the foreclosure process but that's all they can do they can't do anything to me but in time evict me. No judgments, no collections, no added fees.

Thing to remember is a statement of intention is just that. You intend to do but have not sworn to. You are not REQUIRED to reaffirm or sign back into the debt. In fact I think the fact in my case I did have the intention to reaffirm delayed the process of the foreclosure allowing me to stay in the house longer rent free. Consider I have a newborn this is a good thing.

At the same time the bank is not required to take back the house just because you stopped paying them Several people here, myself included have rental properties or other properties that we want to get rid of but the banks drag their feet on the foreclosure. So my advice if you don't NEED to move for any other reason then you think the bank wants you out, then stay rent free until you KNOW the bank has the title in their name.

If you move out and the title is in your name and the bank does not take it then their are some liability that could occur such as city/county code violations, HOA fees and dues if in a HOA community, etc etc. So really you should stay in the house until the bank kicks you out.

[liz417]

I agree with DebtEnder, I wouldn't amend the petition, just don't reaffirm the mortgage and WHEN/IF you decide to leave...just leave, you are not responsible for the balance

You don't want to mess with the petition because your mortgage payment *might* be the determining factor of NOT pushing you into a ch 13 repayment plan Without the house, are you still in the (-)negative each month, what's your DMI?