iVillage Member
Registered: 03-31-2003
Mon, 06-23-2003 - 10:52am
Hi everyone, I feel like I never know if I'm making the right decision anymore. We are in Chapter 13(small bills, and house included) to keep it. Well, we fell behind again. I sent them in 3 payments and because of my deposit not going through when I thought, the check was returned. Now, I am waiting to see what the mortgage company decides to do. I am still one more payment behind. I am now behind in the court payments trying to gather all the money towards the mortgage. (per our lawyer's advice)

This is where I'm not sure if making right decsion. I calculated the mortgage payment and the court payment to be $875.21 if current. So, if we sell and try and rent for a while it could be cheaper. These are my payments if current and not mentioning the electric cost (avg. $200 in summer, $400 in winter) due to no insulation which we cannot get unless we rewire the electricity. The house also needs cosmetic work and it seems we are always trying to catch up. So, this will never happen.

So, I have spent my morning calling places that say they buy your house and we are hoping to either get a wash with the mortgage and we can make some money that would be great. I would just like to avoid foreclosure. I've made so many stupid mistakes (like getting into this house) that I'm afraid of making decisions and stay positive that I am doing the right thing.

I was thinking if I rent I can save money for the house I really want. Which is not the one we are living in (too small to much work to be done.)

Sorry its long and rambling I just needed to get out of my head.

If there is something I am missing, that I haven't thought of please let me know.

Thanks in advance I appreciate any input or ideas.


iVillage Member
Registered: 03-19-2003
In reply to: jlrmom2001
Mon, 06-23-2003 - 11:54am
*sorry about the hat it is stuck*

Hi Brenda,

Please make sure you get your Trustee's permission to sell the House before you go any further; also be aware that if your income/debt changes to where you have more disposable income (for example: rent is less than mortgage) your Trustee will more than likely want that extra money to go towards your Chapter 13 payment plan, he may also ask for any profit you might make from selling the House. Since you are falling behind on the Trustee payments, you are risking your BK to be dismissed...I hope your Lawyer filed a motion for the payment to be suspended and it was approved.

If you cannot sell your House for what you owe, you may want to check into a "Short-sale".


CL Bankruptcy Q&A

Edited 6/23/2003 12:04:15 PM ET by cl-petra1962