341 done and now i'm laid off :(

[mummy]

We had out 341 meeting a few weeks ago and it was smooth. We are giving up our house and one car and keeping a loan on the newer car.

I just found out that I am being laid off in a few weeks.

I'm not sure what to do. I have been applying for other jobs out of state but it may take a while to find one.

I have no idea how long we can keep staying in our house rent free so we are packing and waiting till the last minute to move. We started looking at apartments and most of them said we would need a cosigner. I know we could do a private lease but I could literally find a job in 1 or 2 months and then we would have to break a lease.

Am I missing another alternative here? Extended stay hotels are too expensive. We are a family of 4 and need to rent for $1000 or less.

[keepinitreal]

Is your car payment manageable? If not, maybe you can surrender it before the trustee closes your case. Ask your attorney. Good luck finding a job.

[nc73]

When was the last time you made a mortgage payment? I think it will take 9 months or more before foreclosure.

[mummy]

When was the last time you made a mortgage payment? I think it will take 9 months or more before foreclosure.

October 2009. We rec'd a notice that they filed a relief from stay about a month ago.

[mummy]

Is your car payment manageable? If not, maybe you can surrender it before the trustee closes your case. Ask your attorney. Good luck finding a job.

We don't owe that much on the car so we can sell it, pay off the loan, then have about $2K left to buy an older car. Our city does not have public transportation so we have to have at least one car.

[mummy]

DH and I talked last night and we think we'll stay in the house as long as we can then look for something with a 6 month lease. Will our credit be better before or after the discharge, anyone know? Wondering if we should apply now for an apt.

[StartingOver08]

Usually your credit improves after discharge. Take advantage of the 'free rent' as long as you can so you can get a true fresh start after your BK.

[mummy]

Usually your credit improves after discharge. Take advantage of the 'free rent' as long as you can so you can get a true fresh start after your BK.

Thanks! Do you know how much notice we will get that when we absolutely have to move?

[StartingOver08]

I don't know where you are located, so I don't know about your notice statutes. You can check with your attorney as to the normal timeline for foreclosures and the required notice provisions.

Keep in mind that in some hard hit areas, like Fl, the F/C now take an average of two yrs. Which is about 18 mths longer than the normal F/C timeline. Some of the hard hit areas include AZ, NV, CA, as well as Fl.