I have $38,000.00 in credit card debt. I lost two jobs during the recession and took early social security at age 62 to survive. I barely pay the mortgage and necessary bills. I stopped paying all credit cards about three or so months ago. My house is approx $125,000. underwater. Because I got a loan modification a few years ago I have been able to stay current on mortgage payments.
I have two main questions:
1. Is bankruptcy the best option for me?
2. If I file for bankruptcy, clearly I would not reaffirm such an upside down mortgage. If the home is discharged in the bankruptcy will I be able to continue to live in it if I stay current on the mortgage payments?
THANKS FOR THE HELP.”
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.Can I Keep My House But Discharge My Mortgage in Bankruptcy? by Steve Rhode