Justplainbill
New Member
My wife and I have a house in Kentucky where we have been for 14 years.
She has recently taken a job in another state (Alaska) because the future of her current employer is not very stable. The start date has already been set and we have found a new house where we will be going.
The problem is that we have a great deal of debt (around $100,000) not including the mortgage on our current house. With the economy, we will not be able to find a buyer for our house, as we owe more than it is worth. Also, with two children, it would take a lot of work even to make it look "presentable."
We would really like the lender to just take possession of our current house and be done with it. Currently we have not missed any payments. We also have two cars, one we own and the other we have not missed a payment.
Once we purchase the new house, if we declare bankruptcy, can we then keep the new house and our cars while dumping the old house back to the lender? I know we would have to reaffirm for the new house and car.
Would we file for bankruptcy in Alaska or Kentucky? Is there a jurisdiction?
Bill
She has recently taken a job in another state (Alaska) because the future of her current employer is not very stable. The start date has already been set and we have found a new house where we will be going.
The problem is that we have a great deal of debt (around $100,000) not including the mortgage on our current house. With the economy, we will not be able to find a buyer for our house, as we owe more than it is worth. Also, with two children, it would take a lot of work even to make it look "presentable."
We would really like the lender to just take possession of our current house and be done with it. Currently we have not missed any payments. We also have two cars, one we own and the other we have not missed a payment.
Once we purchase the new house, if we declare bankruptcy, can we then keep the new house and our cars while dumping the old house back to the lender? I know we would have to reaffirm for the new house and car.
Would we file for bankruptcy in Alaska or Kentucky? Is there a jurisdiction?
Bill
