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    Alexis Russell's Avatar
    Alexis Russell Posts: 2, Reputation: 1
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    #1

    Jun 14, 2008, 03:48 PM
    Bakruptcy or foreclosure
    My home has been for sale (no offers, it is listed for 149K) since March 08. I owe 163K and a 2nd mortgage of 11K. My husband and I separated and neither can afford to live there on our own. It was not a conducive situation to advertisefor a roommate. We have both moved out into separate homes (renting). I do not know what to do... allow the foreclosure or file bankruptcy?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Jun 14, 2008, 04:06 PM
    Neither is good, foreclosure is better than bankrutpcy, BUT do you have a lot of other bills that are not being paid also.
    Alexis Russell's Avatar
    Alexis Russell Posts: 2, Reputation: 1
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    #3

    Jun 15, 2008, 02:45 PM
    Hi Chuck,

    Thank you for your answer. I have no other bills that would go into bankruptcy. Just typical utilities and car payments.

    Alexis
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