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POLL: How many surrendered their house?

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    POLL: How many surrendered their house?

    I am curious with today's climate how many people surrendered their homes with their BK. I have heard of two more in my circle of family/friends just in the last week.

    Maybe others are curious too
    65
    YES
    52.31%
    34
    NO
    47.69%
    31
    Filed C7 Aug 31 2008
    341 Oct 8 2008
    Discharged Dec 9 2008

    #2
    We are surrendering. So far no notices have been delivered. We were current the day we filed and our 341 was 12/9/08. just waiting now.


    oh now i see the poll lol. sheesh.
    Last edited by Woah; 12-19-2008, 07:46 PM. Reason: duh...

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      #3
      Wow, big percentage

      Anybody else want to participate?
      Filed C7 Aug 31 2008
      341 Oct 8 2008
      Discharged Dec 9 2008

      Comment


        #4
        I didn't sign a reaffirmation, but I'm still in my house. I wanted to be able to walk away in case one of us lose our job (no jobs are secure any more). But the reality is our house payment is only $100 more than renting a little house or apartment in town. We live out of the city limits, so we don't pay city tax...plus we have a swimming pool and hot tub. In the long run we save lots of money during the summer since we can vacation in our back yard.
        May 5, 2008 - Filed Ch7
        June 13, 2008 - 341 Meeting
        August 12, 2008 - Last day for objections... August 18, 2008 - Discharged!
        August 26, 2008 - CASE CLOSED!

        Comment


          #5
          Originally posted by lillaimof2kids View Post
          I didn't sign a reaffirmation, but I'm still in my house. I wanted to be able to walk away in case one of us lose our job (no jobs are secure any more). But the reality is our house payment is only $100 more than renting a little house or apartment in town. We live out of the city limits, so we don't pay city tax...plus we have a swimming pool and hot tub. In the long run we save lots of money during the summer since we can vacation in our back yard.
          I am so glad you have that! Smart.

          The percentage is interesting, I am also glad it isn't everyone
          Filed C7 Aug 31 2008
          341 Oct 8 2008
          Discharged Dec 9 2008

          Comment


            #6
            We are surrendering 2 houses...
            We built a house right about the time things went south, so it is worth about 2/3 the initial cost to buy land and build. We had another house that we couldn't sell and rented. Our tenant destroyed the home and squatted as long as possible...The rental put us over the edge and we decided to quit struggling with both properties. We are waiting out the foreclosure process for now (until July 22) and have been looking at rentals. There are quite a few for a lot less than our payment was. Like $1000 less per month for the about the same house....
            Looking forward to renting while rebuilding our credit!
            Filed Aug. 5, 2008
            341 Meeting Sept. 17th, 2008
            Discharged 11/18/2008
            Case Closed 11/21/2008

            Comment


              #7
              Surrendering mine. Following divorce, I can't afford it on my own and I could not sell it for anywhere close to what I owe on it.

              Comment


                #8
                I voted that we are surrendering... sort of. By the time we file, both homes will have been foreclosed on, leaving two second mortgages hanging over our heads. We built one house, had over 150k in equity, so we decided to build another and sell the first. Only problem, the market fell while we were building the second home, and we couldn't sell the first one. We struggled for a year to carry both homes, which eventually sank us. Then we found out that where we thought we had 220k+ in equity between the 2 houses (based on appraisals), we were actually upside down on both! That, and I was employed in the real estate industry, so my job went south at the same time...
                BKForum Blog: The Journey

                sigpic

                Comment


                  #9
                  I am surrendering, havent made a payment since August 08 and have never received anything other than the regular mortgage coupon. No late bills, no foreclosure notices- nothing.
                  Retained bk7 laywer 8-12-08, Filed 12-22, 341 Meeting Scheduled 1-29-09
                  Discharged 4-17-09!!!
                  Reason for filing: Medical, NOT irresponsibility with credit.
                  "Sometimes you have to fall before you fly"

                  Comment


                    #10
                    Keeping ours...
                    Filed Chapter 13 05/23/08
                    Converted to Chapter 7 Jan 2012
                    Discharged April 2012

                    Comment


                      #11
                      Yep. We are surrendering. Mortgage company got the relief of stay 12/23. Haven't gotten anything from the court as far as starting foreclosure yet though.
                      Filed 10/11/08 - 341 11/23/08 - Discharged 1/26/09
                      2/19/09 Stipulation agreement reached w/trustee - Still awaiting Closed Status
                      Check my blog at Steve's Bankruptcy Blog Watch day by day what happens with a PITA trustee! - Web Hosting by Broadband Hosting Web Hosting

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                        #12
                        Surrendered with prejudice. The bank would not take short sale offer. wating to see what they will get for it at auction,,, probably less as its been a yr since the offer,

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                          #13
                          We kept ours but did not sign a reaffirm
                          Filed Ch 7 - 07/10/08
                          341 Meeting - 08/13/08
                          DISCHARGED! - 10/15/08
                          CLOSED - 10/20/08

                          Comment


                            #14
                            We gave ours up and moved into a rental. We told the bank they could have it in Sept but they did not take it until 12/23. I guess they wanted to build up late charges on us or something.
                            We are older with medical problems and could not take care of the property anyway.
                            Our son is about to lose his as he has been out of work in the real estate world for 6 months now. It goes up for auction in Feb.
                            My Daughter is right behind us as she also lost her high end job in November.
                            Our family overall is not doing well at all.
                            My wife and I are retired and if push comes to shove the kids can move in with us. It will be crowded but we will survive hopefully until this mess is over.

                            Comment


                              #15
                              We kept ours, and signed a reaffirmation. We have quite a bit of equity, so there wouldn't be any need in the future to sell it for less than I owe. Besides, we only have about nine years left to pay for it, and then we will be done with the mortgage forever!
                              Filed 8/08 - Discharged 11/08! Not tracking FICO.
                              Pre-Bankruptcy Net Worth: -$72,000... Today's net worth: $142,000.
                              If your FICO score just went higher than your net worth, and you are happy about this, you might have a financial problem!

                              Comment

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