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Thanks Cassidy, WhyChat & Linda


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Posted by Aam (209.245.77.92) on September 08, 2002 at 01:40:38:

My company has not post the lay-off list as of last Friday 9/6/02... I m still expecting the worst.

After reading the advices, I think I will go for hardship program than chapter 7. But how's the program works? Half of min. payment? Interest remains the same? The reasons I don't want to file chapter 7 are that I have 2 real estate property with significant equity. One house is jointly owned with my sister and another house is in my wife's name alone. Just in case the worst, should I right now quit claim my wife's house? I live in California. How about the one with joint-owned? My sister can't qualify the house loan alone. Will chapter 7 forces me to sell one of the two houses? If let's say the worst I get a bad judgement down the road, will the judgement un-valid the quit claim to the 2 houses and take them away?
Thanks again.


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