I'm considering walking away and need advice

[Confused33]

I really appreciate the input from you all.

A guy came and looked at the house tonight. Sounded reeeeal nice on the phone and when he got here I was immediately overtaken by thoughts of WTF. He was nice enough but he and his son seemed more like they were scoping out the joint for a hit than they were interested in leasing.

Then they threw me for a loop and asked me what the next step would be to lease the house. Offered to pay for an application fee and everything. Being in sales this leads me to believe that there's probably something wrong out there but I may be wrong. If I am wrong then I kinda have to lease to this guy that I don't really trust.

I'm so tired of thinking about this shit. I threatened to file bankruptcy for 5 years before I did it and it was the best damn thing I ever did. I keep threatening to walk away from this house and I know in my gut that it'll be better for me in the end than leasing it will be.

[notadeadbeat]

Please do yourself a favor and FORGET ABOUT LEASING your house to save it and WALK AWAY. Last fall I moved out and put all my things in storage. (extra stuff I didn't have room for at a friends)

The house was on the market (2 years) and my realtor suggested trying to rent it. I was hesitant to rent but had to in order to not lose it. This was more of a nightmare than having all the credits calling me. The realtor rented it to this woman whom we both interviewed. She was moving from another area, had a tweenie and a boyfriend and he had 2 teenagers. She seemed awesome.

Paid the asking price and security, last month's rent, etc. She seemed very professional. They were to move in 3 weeks later. THE DAY before they were to move in she starts calling me telling me they can't move in now, can I hold the house for her. I said no as I had taken it off the market. Long story short, she breaks the lease, I don't have a leg to stand on which sucks as I thought a lease was binding. So we go down this road again.

Single woman, lots of money, getting divorced, I know her as she's from the same town as me. No issues, writes the check, I cash it, all is well for 2 weeks, she calls to say thank you so much numerous times, I am thrilled.

Well she broke the lease, I got hosed for 3 months rent, 1000 gallones of propane and my house was trashed like a party in a frat house.

The house was in MINT condition, now it's trashed. I tried to get her out. No leg to stand on. It's freaking winter and she has kids............try evicting in the winter....no way in heck PLUS I get to pay to keep them warm as It's against the law to turn the heat off.

NO RENT for months, I get to clean up after her, she tells me how poor she is.

Come to find out while she was saving that rent and trashing my house, and living rent free, she was saving the rent money to buy and furnish a new apartment! Snow melted a few months ago, and I get to clean up after them. They threw all their trash outside and we found it when it melted.

It took me weeks to clean the place up and be able to put back on the market. I was sick over this. PLEASE do yourself a favor and do not rent. Landlords have NO RIGHTS and it is always a fight to get someone evicted. At least in my state.

Being in this position was worse than being in debt! Do yourself a favor, surrender to yourself, God and whomever you have to and walk away. It killed me to do this and know I was never going to live there and admit I was so deep in debt that I would never recover. One of my life's lessons, but I have learned from all of this.

Once I had it all........and I really had nothing.

Now I have nothing, but I have everything.

In the whole grand scheme of things a house is 4 walls that we get tied up into knots with emotionally with all this crap. I know I would have done anything to keep my house and not file BK but now I do know this is the best choice and really only one for me. I know for me it's nice to sleep at night now that I have seen the lawyer and made my decision of what's next.

[Confused33]

I have decided to not lease the home to anyone. I'm too much of a worry wart!

Now I just have to let it sit on the market for 90 days or so. I'm not sure if I'm supposed to be making payments or not. I don't want to.

[eddiep]

The whole lawn thing is funny! A friend of mine lost their home to foreclosure two years ago. She just walked away, well actually ran as fast as she could! Im not sure why but the house has never been put on the market but the bank does have a landscaping company mow the lawn. The house is a dump but the lawn looks great!

[notadeadbeat]

I have decided to not lease the home to anyone. I'm too much of a worry wart!

Now I just have to let it sit on the market for 90 days or so. I'm not sure if I'm supposed to be making payments or not. I don't want to.

If you are filing and not reaffirming the mortgage, walk away and stop paying the payments. That's what my lawyer told me to do.
It was certainly nice that first month I didn't pay and could actually put gas in my car and buy groceries!
I went up there today and the grass is as high as my waist! It is way too funny now. I used to be embarrassed but we just laughed our butts off. Can only imagine what all those nosey neighbors are saying. Imagine the faces when the auction sigh goes up!

[Confused33]

I already filed CH7 and its closed/discharged but I didn't reaffirm. I'm leaving on Friday and not looking back. I might list it with an agent and tell them I'm not willing to negotiate just so that I don't have to worry about showing it.

[notadeadbeat]

I already filed CH7 and its closed/discharged but I didn't reaffirm. I'm leaving on Friday and not looking back. I might list it with an agent and tell them I'm not willing to negotiate just so that I don't have to worry about showing it.

Why not just show it and sell it? Doesn't it automatically go into foreclosure if you do not reaffirm it?

[Confused33]

I've been showing it. I'm moving 3.5 hours north on Friday. I'm sure someone will buy it but I'm not gonna be able to come out after paying a realtor their percentage. I'm not going to be here to show it either.

[notadeadbeat]

I'm confused. If you file 13 and don't reaffirm, doesn't the bank then take possesion immediately afterwards and do a foreclosure? I guess I don't understand the whole process. Does anyone here know?

[catleg]

On the subject of homeowners insurance, you should realize that regular policies do not cover a vacant house, you need special coverage. So you may just be pissing money away on that insurance.

[sadandconfus]

I filed chapter 7. I want to walk away now, they are filing to lift the automatic stay to foreclose. I'm afraid they will come after the mycoborrower. I am in fear of a deficiency filed against my coborrower. My coborrower did not file bankruptcy. Those of you who walked away aren't you afraid of a deficiency? I am in Maryland. I did not reaffirm. My attorney selected redeem. My mortgage company said I can contact them after the stay has been lifted and try to work something out. THey said they don't want house back.

[justbroke]

I'm confused. If you file 13 and don't reaffirm, doesn't the bank then take possesion immediately afterwards and do a foreclosure? I guess I don't understand the whole process. Does anyone here know?

There is no reaffirmation process in a Chapter 13. You either include it in your Plan... or don't. If you don't include it in your plan, along with any plan to cure arrears, then they get to file for a relief from motion from the automatic stay. Once that is lifted, they then get to follow the normal non-bankruptcy foreclosure process for the State in which you live.

[johnstep]

Let the bank toss you out

I am in the same situation. I have not paid on my 1st or 2nd since Nov 2008 and I am still in the house. The banks have not filed an NOD and they have no plans to at the moment. Still paying the insurance just in case someting happens to the contents.

I recommend to continue to stay in the house (hopefully they will PAY you to leave) until they kick you out. Why leave and pay rent when you can stay for few hundred dollars per month! Just think of it as cheap rent!

Cheers!