Which would be better after BK7? FC/DIL/SS

[MrsDixon]

The debt isn't reaffirmed and the house is 55K negative equity with an FHA loan and a 36K 2nd with DCU.

Short sale - seems like a lot of hoopla to go through for something *I* don't owe.

DIL - Wells Fargo won't entertain that option until I attempt a short sale first.

FC - Ugh. I really dislike that option because it makes me feel bad.

It appears that the result of either choice, the worst being foreclosure @ 4 years, will make it 3-4 years AFTER that I can purchase a house again.

Any opinions?

[jmanford]

well I am in Ch 7 right now and not reaffirming our house. It's on the market for short sale right now. From everything I have read and it's alot, this is the best route to take. Foreclosure isn't something I want my name attached to. And, my realtor agrees with me that short sale is the best for my credit report.

[jb1997]

The debt isn't reaffirmed and the house is 55K negative equity with an FHA loan and a 36K 2nd with DCU.

Short sale - seems like a lot of hoopla to go through for something *I* don't owe.

DIL - Wells Fargo won't entertain that option until I attempt a short sale first.

FC - Ugh. I really dislike that option because it makes me feel bad.

It appears that the result of either choice, the worst being foreclosure @ 4 years, will make it 3-4 years AFTER that I can purchase a house again.

Any opinions?

http://www.bkforum.com/showthread.php?t=17098