dee, that's exactly what we did. we stopped paying the mortgage until we had enough money to make the move...also what we did, since we were downsizing so much, is ....not only sold many of our things to be able to afford the move, but what we had left we donated to county and state associates to help us with our tax deductions.

we secured our place PRIOR to the move out for a number of reasons...you know in fl with all these terrible deposits...well we didn't want our credit totally destroyed before securing another place, in an effort to keep those cost down.which it did. actually, i think we were paying on this place.about 9 months before the "actual" move.but then again we were moving 1700 miles...so it was MAJOR.

chin up with the job situation...it's just a sad reality now here in fl.i think we just have to TRY and wait it out until the smoke clears...we are both worried we will never get jobs again! and seriously are thinking about opening our own business at some point.

That's what I thought. Am out looking at places today. Figure we can secure a place before bad credit hits and then take our time moving in and downsizing so the move is not so drastic. Thanks for responding!

no problem deedee...i think we need to stick together and NOT by the humidity! i'm glad we now have a florida group and hope more people will share their experiences so we can make it through this easier!

We are doing the opposite actually. I suppose it's risky, but with the foreclosures taking forever around here (I have a friend with the same mortgage company who hasn't paid in 8 months and still hasn't received foreclosure paperwork). I want to save as much money as possible - I figure I could buy my way into a rental when the time comes. I just can't see letting my house (which I do love) sit empty for a year or more while I pay rent elsewhere.

jlynn...well we actually did BOTH........we stayed and saved and then before the you know what hit the fan we got another place secured....we were paying on it for almost a year before we moved in...but that way we didn't have to worry about the bk on our records..with all the terrible deposits we needed done here it was awful!! PLUS for us the moving expenses the truck rentals etc....the GREAT thing for us tho was while we were paying close to 4k a month our new nice place in florida was costing us just under 800.00 monthly......so we were STILL able to say.

just a thought??

My situation is so time sensitive!
We are above median income, but we were just told we passed the means test based on current situation/income/debt. We are only behind one month and thought about holding off on filing until the foreclosure process starts (to give us as much time to save as possible), but that could be sometime next spring/summer (if not later) and my husband is due to receive a pay increase next year (don't know when/how much exactly) and we are pretty certain it will cause us to fail the means test. PLUS, if we stay and save too long we will have waaaay too much money saved by time we file. We only pass the means test because of the mortgage. So I figure worst case we have Nov-April (including the stay) to save. Best case....2 years. lol

yes, i surely do understand...and it's really ALL about the timing and what's BEST for your situation.

sounds like you just have a "small" window of time and then you have to HIT HARD...i got it...i think..

I felt the same way save and file next year but it bothered me that I would have to lie about the money I was saving when the time comes, what also bothered me is to save all that money and give to the trustie. I found a lawyer after reviewing many others Sherri Simpson Esq who said that it was better to file now once filed whatever money I save after the filing date is mine. She also said that Foreclosure process will take some time which means that after filing I should not move from the house just wait for the bank to foreclose on the property. My filing date is November 23rd, 2010. I missed 2 months payment on 1st mortgage and have not paid 2nd in over 2 years and they have not foreclose. IF they did it would be stupid as I am over $150K upside on the1st without the second. So I used the mortgage to pay the lawyer instead of paying the mortgage i felt better after retaining her, she made me feel comfortable and rather confident.

coak...that's great to find someone that you feel comfortable and trust and is helping guide you through this bk maze!! sounds like you have a plan and are sticking with it. good for you!! we did the same and it seems as though, so far...so good!!

We are in this debate right now. If we saved for NOv and Dec we could file BK in Dec. But Im scared because we are moving up to Tampa area. We need money to move up there plus play for first and deposit to rent somewhere. Im trying to time it and learn the laws. Our daughter finishes school In June, so I didnt really want to move up there til May time. I could go up there early and my husband could stay with his mom and our daughter till she finished school.
Im trying to figure out if its better file BK in Dec. then hope we can get some extra time in the house after the bk is dishcarged and save that money knowing it cant be taken away from us, or just to wait till spring time to file. Its like i just want to get it over with already but timing is everything.

One attorney told us $500 was exempt for head of household income, up to 12g. My husband is the only one who works. Im also worried about the taz refund cause that could help us move but not if they can take in in BK.

stet....i know it's really hard...

we stopped paying our mortgage and took the money and used it towards the move to florida...the truck...the rental of the house etc.
our atty advised us make certain we used up our tax refund immediately....we did...and it was a really big refund...the trustee said nothing. so it really depends on when you file.

i would stop paying where you are now if you can, before you file i would secure your new place in tampa...we filed in tampa area, but we do not live in that area now.we were staying there until we moved into another place.

i think really you should decide what or when you want to move. i would try to secure the place but not actually move until you daughter finished out the school year, it's tough on the kids and it's difficult to uproot them in the middle of the year....