Steve S

[steves]

What is the name of your state? Indiana.
My wife and I filed Chapter 7 last year and was release just this March. We had told the court that we were intending to keep our home, however our income is not high enough so we did not pursure re-instatement. We are now in foreclosure. My question is do we need to worry about a difficency judgement? We are not intending to stop foreclosure, but of course, we would rather not go through this foreclosure. We have offered both mortgage holders a "deed in lieu of" about two weeks ago with no answer yet. We owe more than the property is worth. The home equity loan came first with the main mortgage second. The court has changed both cause numbers to one common one. We are just getting back on our feet and a difficiency judgement would be very difficult to deal with.