I bought a home a year ago. I am the only borrower on my home loan. My fiancee and I agreed to live together and put it in my name and pay 50/50. However, now were breaking our engagment. He has not lived up to our agreement nor has he given me any money towards the mortgage or any other bills. Now I am facing foreclosure. I want to keep my home but don't have the past due amt. I'm thinking about filing bankruptcy to keep my home.
2006-09-03 06:11:11 · 7 answers · asked by harmic 1 in Business & Finance ➔ Renting & Real Estate
He's moving out. I want to stay.
2006-09-03 06:12:58 · update #1
Is there any way you can rent it out and use your income toward the past due, while the renter is paying the main payment? Sell ASAP?
Is there anyway the lender will tack the past due on the end of the loan, or at least a portion of it?
Talk to a Loan Officer and get some advice from a bank. Let them know that you are trying to do the right thing. Do anything you can to not file bankruptcy, but the worst thing you can do is ignore the creditors.
2006-09-03 06:14:07 · answer #1 · answered by NONAME 4 · 0⤊ 0⤋
You should visit LOANSVAULT.NET- I am sure here you can find the best option for you
RE I'm facing foreclosure, any advice on filing bankruptcy in order to keep my home?
I bought a home a year ago. I am the only borrower on my home loan. My fiancee and I agreed to live together and put it in my name and pay 50/50. However, now were breaking our engagment. He has not lived up to our agreement nor has he given me any money towards the mortgage or any other bills. Now I am facing foreclosure. I want to keep my home but don't have the past due amt. I'm thinking about filing bankruptcy to keep my home.
2014-10-04 02:05:19 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Wooo, don't do anything foolish to ruin your credit any further. Filing bankruptcy will take you even long to overcome. If you can't afford the payments, try selling the home now. And don't be even more foolish, use a realtor! You should call your mortgage company and ask to work something out. Tell them you are going to sell the house. Most do no want the property back, and if you can make a few dollars to put in your pocket by selling it, so much the better. If you are able to sell, avoiding foreclosure and bankruptcy, you might be able to purchase a home you can afford. if i can help further, write alterfemego@yahoo.com
2006-09-03 06:17:34 · answer #3 · answered by Anonymous · 0⤊ 0⤋
In case you are not aware of this, a federal law passed toward the end of last year, making personal bankruptsies almost impossible to get, because it is being used as an easy out for debt remedy. It will also cost you money to file for bankruptsy, money you can afford. Bankruptsies, even when granted, will kill your credit standing, and you won't be able to get credit for a piece of bubble gum.
2006-09-03 06:17:45 · answer #4 · answered by WC 7 · 0⤊ 1⤋
Don't miss any more payments. Talk to a personal finance advisor, NOT a loan officer. Work overtime. For many people, your credit rating = your quality of life. I'll repeat: Talk to a personal fnance advisor. Do whatever he says, just like you follow doctor's orders. PFA's help people unscrew their lives, so don't treat them all like crooks.
2006-09-03 06:19:45 · answer #5 · answered by Anonymous · 0⤊ 0⤋
You probably won't find the answer on here. Go speak with a bankruptcy attorney ASAP. They will be able to advise you on your options. Good luck.
2006-09-03 22:19:31 · answer #6 · answered by Hoopfan 6 · 0⤊ 0⤋
hmm don't have a answer.. and i would think its 2 late 2 take in renters, eh.. can you barrow money off a relative .. i don't think you can keep your home if its already in forecloser.. talk 2 a lawyer...
2006-09-03 06:18:36 · answer #7 · answered by Anonymous · 0⤊ 0⤋