Surrendering house with no late payments
O.K. looks like we qualify for a Chapter 7, so now the question is how long will it take the bank to take over the house?
We will be surrendering our house and we have never been late on payments. I heard it's different if you are already in foreclosure, but in our case the bank will be surprised. We are 190K underwater on our first and have a 50K second. Our attorney estimates it would take about 180 days. I thought it was more like 4 months. By the way, we live in Northern Ca.
Just want to ease my mind. I have two young kids in school and would like to get them settled before next school year.
We will be surrendering our house and we have never been late on payments. I heard it's different if you are already in foreclosure, but in our case the bank will be surprised. We are 190K underwater on our first and have a 50K second. Our attorney estimates it would take about 180 days. I thought it was more like 4 months. By the way, we live in Northern Ca.
Just want to ease my mind. I have two young kids in school and would like to get them settled before next school year.