bankruptcy and the impact on house
March 14th, 2009 by Questions
My wife and I have about 37 000 in unsecured debt , and we recently purchased a home that has lot of problems that we can`t afford to fix. Together we make about 4200 a month. We usually can make all our payments, but often borrow from lines of credit to pay bills and only make minimum payments on credit. We don`t have any equity in our home. If we were to file for bankruptcy, should we try to sell the home at fair market value before filing, or surrender the home to the bank before we file.
Posted from: Ontario