Sell and break even or ride it out to end?

[bricky642]

I am currently in foreclosure with about 5 mos.max remaining to stay in house. I filed Chapter 7 in 2009 and did not reaffirm the house. Currently house is on market, and received a good offer and I can walk away with a few dollars, but almost breaking even. I have tried to get some penalties waived from the bank, but they said no, and will move forward. Is it any better for my credit to sell or ride it out and live rent free for the last 5 mos since I did not reaffirm and the bank cannot get a deficiency against me? Thanks for the replies.

[Billssuck]

I'm definitely not an expert here but decided to chime in anyway ! First instinct says to sell and be done with it w/o a foreclosure. But looking at it from a financial standpoint, if you could save several thousand dollars riding it out until auction, then that could definitely sway you're decision towards foreclosure. Have you checked your credit report lately to make sure the house shows IIB on it? I would think by now that it would be correctly reported that way. The way I try to look at my house and foreclosure now is that it is a financial decision and you have to do what is best for you. Another question: Are you looking at buying a house any time soon? If you are, the title transfer date starts the 3 year ticker for buying a new place. Just another thing to think about...