I have 2 loans on my home, the first is a negatve arm so my loan is growing. I owe 275 and the houses are selling for 260 so selling is not an option. I also filed bankruptcy a couple of months ago, the case have already been confirmed and I am making payments for my chapter 13. I live in CA. My question is how will the foreclosure work? How will it affect my credit and will I loose my job or go to jail if I walk away? my neighborhood is very dangerous, a murder happened recently behind me and there was a drive by last night. I am so scared living here. My husband is in law enforcement so we do not want him living here, we are scared this will affect his job. What do I do? Please help me.
2007-05-28 11:47:36 · 1 answers · asked by aliciathechick 1 in Business & Finance ➔ Personal Finance
the home was not included in the bankruptycy.
2007-05-28 11:59:09 · update #1
Was your home loan included on your bankruptcy filing? If so, then you "may" be able to walk away. If not then boy, are you ever stuck...
Try to pay down the loan as fast as possible then cut your loses and take what ever you can.
2007-05-28 11:52:49 · answer #1 · answered by ♥♥The Queen Has Spoken♥♥ 7 · 1⤊ 0⤋