We have had a consultation with an attourney about my wife and I filing ch. 7 My main question was we have a rental house that has about 40,000 equity.
His recomendation was to sell it and take the money and pay down our 100,000 home equity loan. That sounds great but not sure it sounds right.
Our primay house which we want to keep has a 150,000 first and 100,000 home equity and the house appraises for 290,000. We are currrent on all payments but cc's. Sence the home equity loan does not have set payments or life of loan he says its ok. Any thoughts?
His recomendation was to sell it and take the money and pay down our 100,000 home equity loan. That sounds great but not sure it sounds right.
Our primay house which we want to keep has a 150,000 first and 100,000 home equity and the house appraises for 290,000. We are currrent on all payments but cc's. Sence the home equity loan does not have set payments or life of loan he says its ok. Any thoughts?
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