-Just filed CHP 7 last week
-Have been unemployed since Jan/09
-Stopped making payments on house in Feb, now house is in foreclosure (no Sherrif date yet)
-House is worth $185K (before crash worth approx. $225K).
-We owe $165K on 1st (WaMu) & $40K on the second (National City)
-We were just going to walk away from the house, but now I just got a job offer ($75K x yr), so we're considering keeping the house now
-Here's my question(s):
1) Should I wait until my bankruptcy is completely released until I start contacting my lender?
2) From what I've learned, I should only contact the 1st (WaMu) and try and get a modification;.....am I correct?
3) Do not contact the 2nd (National City), and if we stay in the home, do not make payments on the 2nd, but set aside savings towards making them an offer on the 2nd (which would be a 10% offer, or approx $4K;.......am I correct?
Thanks in advance for your answers, and please add any additional advice
-Have been unemployed since Jan/09
-Stopped making payments on house in Feb, now house is in foreclosure (no Sherrif date yet)
-House is worth $185K (before crash worth approx. $225K).
-We owe $165K on 1st (WaMu) & $40K on the second (National City)
-We were just going to walk away from the house, but now I just got a job offer ($75K x yr), so we're considering keeping the house now
-Here's my question(s):
1) Should I wait until my bankruptcy is completely released until I start contacting my lender?
2) From what I've learned, I should only contact the 1st (WaMu) and try and get a modification;.....am I correct?
3) Do not contact the 2nd (National City), and if we stay in the home, do not make payments on the 2nd, but set aside savings towards making them an offer on the 2nd (which would be a 10% offer, or approx $4K;.......am I correct?
Thanks in advance for your answers, and please add any additional advice