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Home Loans Washington State
02/10/10
Bankruptcy and Forcle question ……?
I went bankrupt a year ago, but contiued to make payments on my house. Now you can not afford the afford to make payments on my mortgage loan. I know that the house was part of the bankruptcy, but as long as I stayed current on the payments that would be fine. So my question is … If I stop making payments, how long before I foreclose on my house? “I can pack the things I want and move into a rental and that the agreement with lenders home mortgage? I do not think that can come after me for money because it was part of the bankruptcy. I live in the state of Washington and I know that usually takes 90 to 120 days to leave, but I was wondering if it would be faster due to bankruptcy. Basically any information about my situation would be helpful and refinacing and / or continued payment is not an option. I have to close. Please only people knowledgeable about the subject response. Thanks.
Find an investor who can work a short sale with the lender. There really is no reason to leave the house yet. Stay and save your money for now. But make sure it was included in the BR however. There is also a deed in lieu of foreclosure where you just get out of the house claim to the lender to save costs foreclosure. Or you can simply walk away and ignore it. But talk to your lawyer for the BR and view your credit report before deciding. If the BR has been discharged, no I can see you will not be on the hook for the mortgage. Good luck.