My husband and I rjust bought a house and the sale just closed 3 weeks ago. We haven`t moved in yet, but will be at the end of the month. However, we have found that with the mortgage, taxes, and utilities pls groceries and daycare we cannot keep up with our credit cards and credit lines. We bring home a combined monthly income of $4500. We owe about $47000 to creditors on top of a $304000 mortgage. We have 3 childen and pay $900 a month in daycare. We have no equity in the house and a car worth maybe $2000. If we file bankruptcy will we lose our house.
Just purchased a house and may need to file for bankruptcy
Posted on Thursday, May 22, 2008
posted by Questions @ 7:11 pm
1 Expert Comment:
At May 28, 2008 |
6:17 am
, Barton Goth GCO Bankruptcy Trustees Said...
Firstly there likely won’t be any impact directly on your ouse as there is no equity in the house you have to worry about. However, one thing that may become an issue is the down payment for the house. In terms of this you are best to contact me directly and we can review the details surrounding this and we can determine if there is going to be an issue there.
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