Hi everyone, I have been lurking a little while and since our ball is officially rolling again (we stopped paying 24months ago in NY) I figure it was time to jump in.
Background. We had an 80/20 for a year before losing a job and needing to move out of state. House has been on the market since 1/2007. CW refused DIL and several Short Sale offers. After 6 months we met with a lawyer and decided to continue to try and sell the house but not pay and go towards foreclosure. At this point we had about 20k in mainly cc debt. The house should sell for within 25K of what we owe on both loans combined. We currently have around 15K in cc debt.
Now we are finally moving forward, and it is up for public sale tomorrow. Our intention is to let the house go, as it has been for 2.5yrs.
What happens from here? I have read about settling on the second, or would that just be part of the BK settlement. We pass the test for Chap 7 (barely) but that includes my unemployment for the last six months. But I have read about not claiming unemployment, does anyone know about that?
I have an appointment with our lawyer next week. I am just anxious to be able to move on with our life, does anyone have any guess as to how long it should be from here and anything I should be worried about given our specifics?
I appreciate in advance you reading this novella, and any insight you may be able to provide. TIA!
Background. We had an 80/20 for a year before losing a job and needing to move out of state. House has been on the market since 1/2007. CW refused DIL and several Short Sale offers. After 6 months we met with a lawyer and decided to continue to try and sell the house but not pay and go towards foreclosure. At this point we had about 20k in mainly cc debt. The house should sell for within 25K of what we owe on both loans combined. We currently have around 15K in cc debt.
Now we are finally moving forward, and it is up for public sale tomorrow. Our intention is to let the house go, as it has been for 2.5yrs.
What happens from here? I have read about settling on the second, or would that just be part of the BK settlement. We pass the test for Chap 7 (barely) but that includes my unemployment for the last six months. But I have read about not claiming unemployment, does anyone know about that?
I have an appointment with our lawyer next week. I am just anxious to be able to move on with our life, does anyone have any guess as to how long it should be from here and anything I should be worried about given our specifics?
I appreciate in advance you reading this novella, and any insight you may be able to provide. TIA!