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huge debt, bk, & new home
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Posted by jo
(205.240.35.226) on January 08, 2004 at 07:45:40:
I would like to know if any of you have had experience with this..
70k credit card debt, all accounts charged off, tried CCCS, tried settlement company, all failed. now have 14 accounts on credit report showing charged off.. 3 judgments. Heres the deal, I want to file ch 7, own a home(which is too expensive to keep)
we are current however so will be filing ch7, equity is exempt.
if we file in february, and it is discharged by say july 2004.
and we decide to sell the home....how likely is it that we will be able to get another home.(cheaper than this one) & say the home costs 70K & we put down 20K making mortgage 50K and we have military retirement check of 535.00 each month which we will turn over to pay new mortgage....DO you think we would get a mortgage? remember filed ch 7 wiped out debt, sold house, want to buy new house for about 50K mortgage & have 535.00 month guaranteed payment. thank you
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