Should I file bankruptcy or sell my house on a short sale?
I was unemployed for a year and got a little bit behind on my house payments. I finally found a job that paid half of what I used to make, but was unable to make the entire payment so I applied for a modification from BofA and from WF (HELOC) and was given a temporary modification. However, every month, BofA reports it to the credit bureau as "paying late", even though I am paying on time. Now, WF has raised my monthly payment, which I cannot afford, or they want me to pay the entire ,000 loan in full. They have reported it to the credit bureau as "charged off as bad debt". What are my options? Other than these two debts, mortgage and heloc, I have no other debt. Can they come after me and garnish my wages? Should I file bankruptcy? Should I sell the house on a short sale?