Hello everyone,
I am newbie to the whole bk forum. I was wondering if someone can give me some insight as to what to look forward to in this process. We meet with our BK lawyer next Thursday, but of course with answer comes a a retainer fee and a short answer.
My wife are in financial stress. My wife hours have been cut in half and and work for the state, so my paycheck has been cut as well. We stopped paying our credit cards about 6-7 months ago and it's getting to the point where we are going to default on our home loan for the first time.
This is what we want to do. We want to live in the house as long as possible without making mortgage payments. We also want to give up our 2 leased cars, as well as have all of our debt discharged. We live in California and our mortgage is with Bank of America.
My question is, I have heard from other BK lawyers to stay current on the house until the BK process is nearly finished. I don't understand the reasoning for this. If not paying a couple months of mortgage really hurts us in this process? We are already struggling as it is already. Do we just bite the bullet and and find a way to make ends meet every month.
Someone please help!!!!
I am newbie to the whole bk forum. I was wondering if someone can give me some insight as to what to look forward to in this process. We meet with our BK lawyer next Thursday, but of course with answer comes a a retainer fee and a short answer.
My wife are in financial stress. My wife hours have been cut in half and and work for the state, so my paycheck has been cut as well. We stopped paying our credit cards about 6-7 months ago and it's getting to the point where we are going to default on our home loan for the first time.
This is what we want to do. We want to live in the house as long as possible without making mortgage payments. We also want to give up our 2 leased cars, as well as have all of our debt discharged. We live in California and our mortgage is with Bank of America.
My question is, I have heard from other BK lawyers to stay current on the house until the BK process is nearly finished. I don't understand the reasoning for this. If not paying a couple months of mortgage really hurts us in this process? We are already struggling as it is already. Do we just bite the bullet and and find a way to make ends meet every month.
Someone please help!!!!