| |  |
| Home | Law Advice | Insurance Advice | Community |
|
| |
| ||||||||||||
| |||||||||||||
| |||||||||||||
| |||||||
| | |
 |
| | LinkBack | Thread Tools | Rate Thread | Display Modes |
|
#1
05-14-2009, 09:57 AM
| |||
| |||
Should I file Bankruptcy? Please HelpWhat is the name of your state (only U.S. law)? MD I do not want to do this but I am not sure what my options are. Please help. I have tried to refinance my house 2-3 times in the past 6 months but was denied both times due to my house not having enough loan to value ratio, as well as my debt to income ratio. I have tried to sell my house for 3 months and have had no bites and only one family come out to see it, I have also tried to rent the house and have had no luck with that either. There is a house that just foreclosed and is being sold for under 400K. I owe 400K on my house and have spent 20k in the past 6 months to finish the basement, and do the entire yard to make the house shine. I also have a vet that I owe 40k on and it has lost 17K in the past year so I am 8k under. I have emptied all my savings trying to finish the house and I was just married and owe my new in-laws money for it still. I can not afford to lose anything on the house and the car... I have just refinanced the car to save me $100 a month but with the monthly bills with the house going up so much I am not able to keep up with this. When I bought the house 3 years ago my monthly bills to keep the house running was around $3300. Now it cost me just about $3800. My wife bought a condo before we got married and is in her name only. I bought a house for my dad due to issues they are having that I pay for. I owned the vet prior to getting the house for my dad but have been trying to sell the vet for the last 6 months. I do not have any credit cards Here are my scores, bills, pay ect... Credit Score-770 med I have a secret clearance House payment $2900 Dads House $1100 Car payment $700 Monthly bills $1000 (This includes gas, electric, insurance, food ect..) I bring home $4200 a month from my job and $1550 a month disability. I do not want to file bankruptcy or foreclose but I am not sure what else to do... I have made ever attempt to save money, cut many bills out and cut going out and spending... Again please assist me and thank you in advance for your help. |
|
#2
05-14-2009, 10:48 AM
| |||
| |||
| Are you still married?
__________________ ***************************** When you can't bear something but it goes on anyway, the person who survives isn't you anymore; you've changed and become someone else, a new person, the one who did bear it after all. — Austin Grossman Quote:
|
|
#3
05-14-2009, 10:49 AM
| |||
| |||
| You need to cut your expenses. You own/pay for TWO houses and an expensive car...and you wonder why you're having money problems?
__________________ * * The information I gave is based on my 7 seconds of research on Google. Review the information yourself to make an informed decision. Communication is KEY - 10 mins of talking now can save you months of headaches later! Masterfully stating the obvious to the oblivious! (Thanks SP!) Tell it like it is! When all else fails, make up a statistic!  Gender references shall apply equally to the other gender. I will not correct gender mistakes (unless I want to) |
|
#4
05-15-2009, 09:12 AM
| |||
| |||
| I am still married. As for the bills the only bills I have is the car. My monthly bills are all for the house. The only reason I am in this position is due to the second house I purchased for my father. For the car I have been trying to sell it since I purchased the hosue for him. |
|
#5
05-15-2009, 09:15 AM
| |||
| |||
| Continue to try and sell the car Move dad in with you and sell his house. Cut those household expenses. $1000 is a lot of money File for bk and that credit score (and possibly that clearance) are toast.
__________________ Someone else sees it too: Quote:
|
|
Linear Mode
