Large Downpayment for One Year's Rent

[MikeW]

I stopped paying my mortgage in March and would like to stay in the house as long as possible. I think I have two options as far as timing:

1. File ch7 now and start saving money during foreclosure process.

2. File ch7 several months down the road, after sheriff's sale is announced. Would probably have $8,000 cash saved by then.

If I go with option 2 and before filing ch7, pay $8,000 to a new landlord for a full year's rent, how would a trustee handle that? Would it be treated as an $8,000 asset when calculating my exemptions?

Thanks!
MikeW

[keepsmiling]

I'd say they might not like that very much.
Unless, of course, you can exempt it.
I'd love for someone to say that I am wrong. But if they are counting lousy little utiility deposits as assets - and for some reason, many are, which IMHO is ridonkulous...than surely this would be one too.

[ValleYum]

(1) is my choice - not many exemptions for cash in Florida.

[HHM]

Option 1 is the only viable option.

Option 2 is a non-starter.

[MikeW]

Thanks for the replies! It was a silly question, but I had to ask.