If you had to choose between Chapter 13 Bankruptcy and Foreclosure, which would you choose and why?
My main concern is to understand as much as I can before my wife and I make this decision. My concern is to understand if there is a difference during the rebuilding credit phase between each one? From a lender’s perspective which would they rather see, and why? How soon after each would a lender consider an owner occupied loan and a non owner occupied loan assuming everything else is "perfect"? And if you’ve filed Chapter 13 in the past how much does it cost?