Due to permenent disability which occurred 2 years ago I can no longer afford my monthly mortgage. Normally I would just sale my home but my house in Las Vegas is currently about 0,000 up side down and I do not have that kind of cash to make up the difference. I have spoke to the lender (Chase) in length and the only thing that they are offering is temporary solutions so I know that I will have to move. Luckily I have a excellent family support system that will allow me to live within the confines of my limited disability income. but I’m concerned about the mortgage company harassing me for the mortgage deficiency, so should I file bankruptcy now or wait until I’m out and wait for the bank’s deficiency judgement? Please understand that I have always been responsible with my financial responsibilities but I did not choose to get sick, so I’m trying my best to play with the cards that have been dealt to me! Thank You.

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Long story short..
My home is 0000 upside down. I have two mortgages. I’ve had to relocate out of state and I can’t afford the mortgage and my new rent with my new lower salary. I don’t plan on moving back into the house. I would like to sell the house but like I said… I bought it for 8000 and it’s now worth 0000 and dropping. I have decided to stop paying my mortgage (not easily, I’ve been thinking about it every day for almost 2 year). I’ve used up almost all of my savings to fill in the gaps. I have no assets. I have a great credit score and no other debt but my home right now. I know that banks will foreclose eventually. I’m worried about getting a deficiency judgment. I’ve read that filing for bankruptcy is an option but does it make sense if I have no other debt? Can I even qualify? Should I wait and see if they even try to get a deficiency judgment first?

I don’t want to hear anyone talk to me about responsibility, I KNOW that I got myself into this mess. I need to know how to get out of it or make it less messy. Thanks.
The house is in Nevada. I have rented it out but I’m still in the red every month. I know my credit will be ruined and I can accept that. I just need to know what I can do to prevent or decrease the chances of a deficiency judgment. Again, if my only debt is my house can I file for bankruptcy and should I. Is there a chance that I won’t get a deficiency judgement? I make an ok salary, but my mortgage and rent alone leave me in the red every month not to mention all the other expenses associated with survival! I just want to know the best way to start over with my life.
Thanks.

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