And whats better option if i can't sale my home and i'am about to lose it becuase i live so far out from the cities it takes me at least 2 hours to get to work and no one whats to buy my home becuase its all new development and so far out to do anything. i bought a new car with 0 miles 1 year ago and now it has 6700 miles on it i get oil change ever 1 month and half and waste250 a week for gas. So if some one could help me of what is my best option i would really appreciate it.
2006-12-01 01:14:50 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Assuming you are in the US, bankruptcy will stay on your credit for 13 years. Good luck buying ANYTHING on credit during that time.
As far as answering the rest of you questions, I would really need some more information. My best suggestion would be to go dig around at www.daveramsey.com and maybe give them a call for help.
2006-12-01 01:19:14 · answer #1 · answered by Steve H 5 · 0⤊ 0⤋
You are making it sound like the bank owned it since 2009. I am guessing they handed it over to FNMA or something? It is a long time for the bank to still own the home. Anyway- if it went all the way thru foreclosure in 2009 and you have cash or credit that will allow you to buy the home now- then in every case I know of you can buy the house. However if they claim you committed fraud or something like that.....but you would not have good credit and you might be in jail if that were true.
2016-05-23 07:34:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Unless you have a ton of money to put down it won't be any time soon.
There is a bigger problem here. You want to have your creditors erase all your debts. When debts are erased they are a loss for your creditor but they pass that on to its customers. Therefore, by you writing off debts everyone else is paying for it.
Now you want to gain advice on when you can make yet another financial misstep from people who will most likely be helping to pay for your unpaid debts.
Your best option is to not make bankruptcy a viable option. Change your lifestyle, consolidate your debt, and repair the mistakes you have made.
2006-12-01 01:43:55 · answer #3 · answered by Anonymous · 0⤊ 0⤋
1st ask yourself if you really need to file for bankruptcy? It stays on your record for 7 years and you are not facing the real problem...which is you are bad at money management!
You bought a new car when you couldn't aford a house....not good..... Please do not file for bankruptcy!!!!!!!!!
There are so many other ways to sell your home, get a used car, and rent an apartment in the city closer to work.....
I have learned one thing in life, " You have to work hard for anything you want in this world of ours!"
Good luck
2006-12-01 01:20:47 · answer #4 · answered by James 3 · 1⤊ 0⤋
There are lenders that will issue a loan 1 day out of BK if you have a decent job and can verify it. It would also require about 20% down payment.
Here is some additional info. Hope this helps.
2006-12-01 02:56:49 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Sell it for what you owe. An investor should pick it up. Don't try to sell it yourself, you need the MLS.
Your neighbors will hate you (lowers their value) but your credit will survive. You aren't driving that far for a year, but it soulds like you bought a gas hog. Trade that puppy in!
2006-12-01 02:15:28 · answer #6 · answered by Anonymous · 0⤊ 0⤋