Clipper965
Member
What is the name of your state (only U.S. law)? Florida
The house will have to go through probate. I met the bank and informed them I will go on making mortgage payments. They told me the process I must do is I have to wiite them a formal letter stating I live in home and wish to keep. They then pull my credit and if they allow me to keep I have to pay an assumption fee of 1% of loan balance. House is $20k underwater mortgage wise. I went bankrupt in 2002 and have re-established my credit and my Beacon 5.0 score is +650 and my Fair ISSAC 624. Once I get my life insurance money I will payoff a $10000 debt which will free me from a $514 debt payment. I would like to keep the house. My annual gross is only $26400 and the outstanding balance is $140K. I cannot imagine the bank wants the house back but The mortgage is almost half my monthly take home pay. My plan is to rent 2 vacant rooms which should bring in $500-$800 month. What are my chances on keeping home?. I telecomute out of home office and need to know where my housing situation will be.What is the name of your state (only U.S. law)?
The house will have to go through probate. I met the bank and informed them I will go on making mortgage payments. They told me the process I must do is I have to wiite them a formal letter stating I live in home and wish to keep. They then pull my credit and if they allow me to keep I have to pay an assumption fee of 1% of loan balance. House is $20k underwater mortgage wise. I went bankrupt in 2002 and have re-established my credit and my Beacon 5.0 score is +650 and my Fair ISSAC 624. Once I get my life insurance money I will payoff a $10000 debt which will free me from a $514 debt payment. I would like to keep the house. My annual gross is only $26400 and the outstanding balance is $140K. I cannot imagine the bank wants the house back but The mortgage is almost half my monthly take home pay. My plan is to rent 2 vacant rooms which should bring in $500-$800 month. What are my chances on keeping home?. I telecomute out of home office and need to know where my housing situation will be.What is the name of your state (only U.S. law)?