Filing Ch 7 Today...

[Isobel]

I meet with the lawyer at 4 pm today to file... after months of pondering and nail-biting. I'm way over the median income for my state, but my expenses are such that I qualify. I'll be letting go of my underwater home that I've been in for 11 years, which is $150+ underwater....

$300K first mortgage - Wells Fargo
$35K second mortgage - PNC Bank
$30K credit card debt

My attorney says it's doubtful Wells Fargo will file a motion to lift the stay - much more likely they'll wait until the bk complete. So he says I have at least until mid-September to stay in the house. I'm still nervous about finding a place to live and how to time that. But I think I'll be OK: I was offered a place last week even though I was completely upfront about the foreclosure and the bk. The landlord was a mortgage person, so I think he knew my situation... On the other hand, I saw a 1 bedroom place for rent, suitable for one person that would require $4500 to move in!!! Outrageous...

I only hope there are no glitches and I can't wait to start over again!

~ Isobel

[BROKEDED]

We were very similar...150k first, 105k second, 42k in CC, 24k over median. Discharged today. Even though I knew it was pretty much a done deal, t really does change things knowing this is behind us. We are still in our house so once we are moved and our case is closed, I think we'll have even more satisfaction and relief.

Each milestone will be another step in your recovery and happiness...filing, 341, discharge, closing, moving... Congratulations on taking that first step!

Edit, our first filed a motion for relief from stay right after our 341 but has not taken any actions, obvious to us, to pursue foreclosure before we were discharged. Hopefully, yours will be the same way. Oddly, we are renting from a mortgage person as well.