Trustee had an intereting response at my 341 meeting

[SPalin]

I had my 341 today and the Trustee asked about my old '83 Mercedes Benz, when he asked how well it ran I responded, "well 4 out 5 cylinders are working"... he then moved on to next question. The next question was about my home, he asked if I was current on the loan I responded, no I'm delinquent, asked my intentions on keeping it (filed that I would retain the home), my response was to surrender the home. The Trustee had a very interesting response, "Glad to hear your making the right discussion in surrendering your home, since your over 50% negative equity!" My response was, yes and the value is still dropping on it. Then he dismissed me....
Has anyone else had a Trustee acknowledge that your doing the right thing?

[AngelinaCat]

I hadn't heard that before, but it has to give you a rather good feeling about your decison!

Good luck to you!

[gwar11d2]

Similar on my house I'm surrendering in MI. I think I heard something like "wow, another one from Detroit..." or something like that. Anything loosing 90% of it's value is a bad thing. (Real price I might be able get for it if I was lucky) I can't believe they sold the Pontiac Silverdome for 590,000 you would think that would kill the property values in MI.

[dspii]

I can't believe they sold the Pontiac Silverdome for 590,000 you would think that would kill the property values in MI.

Scary part is our friends in California had to pay that much for a 4 bedroom home.....I wonder what the value would be if they moved it to California.

[BrokeMike]

Scary part is our friends in California had to pay that much for a 4 bedroom home.....I wonder what the value would be if they moved it to California.

Good one!