I’m a 23 year old single female at a loss…Here is a rundown of my debt. A ,000 FHA loan that got foreclosed on, ,000 second mortgage, i’m guessing about 25k in credit card debt and another 30k at least in hospital bills. And here’s a kicker. One of the credit card companies is suing me.

The house is already foreclosed on and i don’t have a car so i don’t need to do the one where they save your house and car.

I’ve heard that a bankruptcy on you credit follows you for the rest of your life, but a foreclosure will fall off in a certain number of years. I want to eventually be able to buy a house again and have credit!

Technorati Tags: 25k, 30k, bankruptcy, credit card companies, credit card debt, fha loan, foreclosure, hospital bills, kicker, rest of your life, rundown, second mortgage

My husband and I are getting divorced. he left me with bills I can’t afford. I’m in danger of losing my home and I know I can afford to pay on the mortgage itself and the utilities with only my income but I couldn’t possibly afford a second mortgage payment too. I’ve been thinking of bankruptcy because he has everything behind and I am in debt I never knew existed. Is there any way for me to keep thje house without paying 2 mortgages? Any suggestions?

Technorati Tags: bankruptcy, mortgage payment, mortgages, second mortgage

Just wondering because I don’t want a second mortgage.

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I’m in trouble what can I say and the only thing left is to file bankruptcy. I do own a home and I’m current with the payments.I do not want to lose my home.What I make right now is just enough to support myself and my kids. Few years ago my then husband took a second mortgage on another property that we own at that time. After separation we have lost that home and we agree for me to remain in this home now and pay for it which I do. The problem is that things changed. I lost my job , divorce etc and we stop paying that loan. Its about 27.000 dollars. After stop paying the loan was handed to a collection agency. I agree to pay them 100 a month. But is getting harder in harder to go by. Mortgage , food, gas , 2 kids ,etc I can’t make it. I really don’t have any other debt except a 1800 dollars credit card that is still current. I have a part time job now and I don’t know how to make it.The ex husband don’t help. My question is can i file to bankruptcy on my own? I don’t have money to pay a attorney. My credit is ruined already.I need to get out of this without loosing my home. When I did my taxes I paid off some other bills that I had. I don’t want to do this just to get away from my debt, but I don’t see any other option. I make 900 a month.
Thanks
i forgot to say that I live in Illinois

Technorati Tags: bankruptcy, credit card, divorce, husband don, money, part time job, second mortgage

I just filed for a chapter 13 and my attorney suggested I get an appraisal in case its less than what I owe between first and second mortgage. He said it could affect whether I am still required to pay the second mortgage. Does anyone know if it will also affect my first mortgage? I just got the appraisal back and it is considerably less than even whats left on the first mortgage.

Technorati Tags: chapter 13, first mortgage, second mortgage

Facing a lay-off, we may have no other option but to file for Chapter 7. We have a mortgage and second mortgage. When you file chapter 7, does this discharge mortgage debts as well? Then do you give up your home, or keep it, or what?

Technorati Tags: chapter 7, mortgage debts, second mortgage

This is related to a short sale with a second mortgage (HELOC) that wants us to settle a 60K debt for the next 10 years. We have a buyer and can let the sale go through with those terms. Our other alternative is to let the whole deal fall and just go into foreclosure. Which deal is better in your opinion. Thanks.

Technorati Tags: 10 years, foreclosure, heloc, second mortgage, short sale

I’ve heard of companies like cureadebt.com that will settle your credit card debts for 70% of the amount owed. I’ve also heard of government grants to pay unsecured debt(credit cards), but I don’t know where to get the info on them. I’m considering a second mortgage to pay these off with a lower interest rate. Thoughts?

We no longer use credit cards, so the balance only increases because of high interest rates.

Technorati Tags: credit card debts, credit cards, debt credit, government grants, high interest rates, interest rate, second mortgage, unsecured debt

We bought a brand new Condo/Townhome in Rhode Island in 2005.
Its in a decent area, 10 min from Providence. 40 min from Newport. 50 minutes from Boston. We both lost our jobs last November and are both living on one Unemployment check. With student loans, cars, insurance, utilities, mortgage, credit cards etc… Its all getting to be way too much and we are throwing away everything we’ve saved into this black hole of debt & mortgage interest.

So, we’ve read all about both types of Short Sales, (release of lien) etc.
Foreclosure, Bankruptcy etc…..

I know there is an alternative to rent our Condo/Townhouse out but the market isn’t looking that good for renting (to cover what we’d need for bills & to move) BUT, we want OUT OF HERE! We want to either move back home to upstate NY where our families are from or way down south to FLORIDA where its warm. I don’t even care if we RENT again. I’m SICK OF IT around here. One of the highest unemployment rates and we are depressed and miserable.

So, what is there for us to do?
we had so much student loan bills on credit cards we consolidated into a second mortgage while the market was still good. So, now we have the first home mortgage and a second mortgage. These total 0K the main problem is that we are 1 of 5 condo units. The one on the end went into Foreclosure when its owner skipped the country. NICE! So, with that unit selling for 9K we are screwed!

So we’d short sale and have to get forgiveness for K
AAaaaaahhhhhhh……………………………
If its a release of lien, I can’t afford 70K plus all my 50K in student loans and still be left with no house.

What the heck are we supposed to do?
Just want to move…..

Any help would be great!

ps- I’ve tried talking to our Mortgage Co. (First Franklin based out of CA) they are NO HELP. and have straight out told us they won’t do anything unless we are 3 to 4 months behind on payments. Of which we aren’t. We have never missed a payment.
WHY WON’T THESE COMPANIES WORK WITH US THAT NEED HELP? I DON’T GET IT…

Technorati Tags: 4 months, black hole, compani, condo townhome, condo townhouse, condo units, decent area, first franklin, first home mortgage, last november, mortgage co, mortgage credit, mortgage interest, move back, second mortgage, student loans, unemployment check, unemployment rates, upstate ny, what the heck