hi, can anyone tell me if is better for the house to go by repossesion from the lender or is it better to file for bancruptcy first so it goes with that. thankyou for any help
If you are BR when the house is repossessed then any shortfall can automatically be included in the BR. This is the option that most people who own a property take if it is going to be repossessed.
hi thanks for the reply, shall we tell the mortgage company that we are going to declare bankruptcy or do we just hope that we can get it done in time before they start reposession and how far down the line do they have to be if we manage to get it done - hope that makes sense -. the problem is, we have no money to file the bankruptcy. many thanks
reposession or bancruptcy
Posted - 02 September 2009 : 09:07:34
