I filed bankruptcy and surrendered my house - both mortgages were discharged. Because of the backlog of foreclosures in Maryland, I sold the home in a short sale. Am I responsible for federal and state taxes for this sale? I owed $180K on the first mortgage and $47K on the second. The house sold...

We're filing 13 and surrendering our home in the BK. I was wondering, does the lender foreclose quicker for non-pmt compared to a BK surrender situation? I've seen recent examples in both situations:

Non-pmt foreclosure situation : recent example in az, where the time from first late...

My husband and I are filing chapter 13 within the month and plan on surrendering our home (which we're 100K+ upside down on). We're only 1 month behind on payments on our first and 2nd loans.

My question is, should we begin looking for rentals now that our credit is still good? or wait...

Have a question:

Just filed for Ch 7 (no asset), partly due to our condo being about $55k underwater (1st and 2nd liens), and in our filing paperwork we listed intent to surrender upon discharge.

Now, the issue we run into is that we would prefer to squat for as long as...

I have a car that was under a ch 13 and now we are converting to a ch 7.

I was wondering if anyone had dealings with this finance company? Thanks!

I am planning to file Chapter 13 with the hope that I can strip my second mortgage. If I can strip the lien, I will be able to keep the house. If I cannot strip the lien (the value may not be low enough), I will not be able to afford to keep the house.

Q1. If I am unable to strip...

How long after filing does it take to be able to get financing for a car again?
My husband and I are filing Chapter 13 and I own an 06 Honda Odyssey (paid for---well on our house!!) My husband is upside down on his BMW about 6K. He owes 22K. He's worried about Suncoast repo-ing his car because...

O.K. we just had our second meeting with our attorney. Decided to go ahead with Chapter 7, but when I mentioned we want to surrender our home he would cover over other things first. Then when we got to filling out the paperwork, he put down Short Sale. I don't get it! I said surrender.

...

Where will they figure in my 2009 taxes that are due?

I know they are a priority claim and have to be paid in full, which would make them secure, right?

I would like to surrender our home, but the deficiency would put us near 320,000 in unsecured debt nearing us to the...

We are meeting with our attorney next week and I want to be prepared. Here's the situation:

Own and Operate LLC Partnership (profitable)

Income 200K/yr.

Unsecured credit: 82K
Taxes for this year: 40K
Secured credit: 40K (two cars, dirtbike, piano)...

I got BK7 discharged last week ( ) and closed yesterday. We did the switcharoo on my (vacant) condo at the last minute to surrender it, which was the plan after I decided, before finally filing, that I didn't want to keep it.

So now what with the condo? Do I just sit and wait for...

I will be filing in the next few months, and giving up an upside down rental property in the process. Is there a release or some way to surrender the house so the foreclosure moves along quicker? I work at City Hall and don't really want unpaid property taxes showing up with my name on them.