Need to know if i will lose any of my homes

[HOMEBODY]

I have asked before but not getting any answers. I have 3 homes and 2 are rentals that dont have any tenants yet. Hoping to get one tenant soon as she put a deposit.

I need to know if they will ask me to give up my homes. I know I can afford them if I get rid of the cc's and lines of credit. I will soon find a tenant for the 2nd house.

I am late by 60 days on the 2nd line of credit of all 3 of them. I am up to date on all the 1st loans.

Do they ever tell people to give up their homes? I am working with the bank to get modified on 2 of them.

Please, would appreciate your help. I am filing early April as I want to modify the loans before I go into bankruptcy so it doesnt stop the process.

Thanks

[justbroke]

No, they won't ask you to give up the homes. However, if you are not making enough money to cover the full cost of the rentals and/or they are underwater, the Trustee could think this is bad faith. Especially if you're reaffirming that debt. Think about it. You ask for bankruptcy protection but re-affirm the largest debt items that you really can't afford? I mean, it shouldn't take a Trustee to intervene.

You now freely admit that they all have 2nd mortgages that are all late. Please, let them go. I tried to save mine and in the end, it's just not worth it. Trust me when I say that having one or more "empty" properties (and you only have two) and entering Chapter 7 (or even Chapter 13) is a very bad thing.