Bankruptcy and foreclosure
I have come to the realization that I cannot handle this any more. I will have to file bankruptcy but have a strange situation.
I work in Ca, own a house that I am renting out here but also have a home in Texas where my spouse and children live. I live with my sister.
I want to keep the Texas house. The Ca house has a first and a second mortgage and is worth only about 80% of what I owe on it, the tenant has not paid his rent this month and it is the first month I have fell behind, I also have about 80,000 in CC debt as I have been using these to pay others. If I forclose will the first mortgage be paid and will I be left holding the bill for the second? Any help would be appriciated.