Chapter 7 including condo

[cmcfall]

Good morning all, I am filing a chapter 7 and have decided to include my condo in the bankruptcy. I am upside down on it, on an adjustable rate mortgage and unable to refinance to get a fixed. I am not behind on my mortgage payments and have to file immediately due to getting served. Do I just add my mortgage and HOA company (I am not behind on HOA payments either) as a creditor on schedule F and if so do I just add the amount I owe on my mortgage and stop making mortgage payments? Any help on this will be helpful.

Thank you,

[RobGee]

Good morning all, I am filing a chapter 7 and have decided to include my condo in the bankruptcy. I am upside down on it, on an adjustable rate mortgage and unable to refinance to get a fixed. I am not behind on my mortgage payments and have to file immediately due to getting served. Do I just add my mortgage and HOA company (I am not behind on HOA payments either) as a creditor on schedule F and if so do I just add the amount I owe on my mortgage and stop making mortgage payments? Any help on this will be helpful.

Thank you,

You must include all debts on the petition as well as debts you plan to keep. You would throw your mortgage company on schedule D as well as home owners association because these debts are secured. Schedule F is for unsecured debts. If you plan on keeping the property then you could continue to pay your mortgage and keep the home owners association current. If you plan on surrendering the property then you could stop making payments and ride it out as long as possible. I hope this helps.