Unanswered Questions

I’m Headed Towards Divorce in a House That is Upside Down. – Patrick

Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and advice in the comments section of the original question. Click here.

“Dear Steve,

We’re headed towards divorce and living in a house that’s upside down. Neither one of us will be able to afford the house once we split and these houses are not selling. I have a good job, just need to live a more modest life-style, but can’t really make a fresh start before I get this house sold.
Question Is it better to try and go with a deed in lieu of foreclosure, or to declare bancruptcy. Do I need a lawyer to do the deed in lieu of forcelosure? How long does it take for your credit to recover from each situation?


See also  I Am Way Upside Down in My House And I Have a Relative That Wants to Help Payoff My Credit Cards. - Paul

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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