I see that you are in a difficult predicament. I wish there was a perfect answer for you and your family. The first thing that I would do would be to contact the attorney that assisted with your bankruptcy. They initiated a plan and can advise you on next steps that will be the biggest benefit to you. The attorney may suggest speaking with the bank, a Realtor or a Real Estate Attorney. Together you can put together the actions that you need to assist you in this difficult time - maybe a short sale as was suggested below, maybe a deed in lieu of foreclosure or maybe accepting foreclosure on the property. I don't have all of the answers without knowing all of the facts but would be more than willing to assist you in getting to the bottom of this issue. Click on the link below to give you some general information that may help. Stay positive. I wish you well and am sure that you will successfully come through this..................................chris
By just walking, I assume you will stop making your payments. Typically, if you stop making your payments, the bank will foreclose on your house. You can confirm this with an attorney. Then, you will end up with foreclosure on your credit. It would be better to do a short sale. A short sale is less harmful to your credit than a foreclosure. Also, with a bankruptcy already on your credit, now is a good time to do a short sale. Based on your question, it sounds like you are no longer responsible for the mortgage. I have a few more questions regarding the bankruptcy. You definitely need to speak a lawyer and CPA regarding your obligations. We have closed short sales post bankruptcy and can definitely help you.
Feel free to give me a call.
Eli Givoni, Director
Short Sale Department, LLC
Serving all 50 states
MARS Disclosure for General Commercial Communications
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
The best option for you right now would be to do a short sale. It's never good to walk away from a home. If I can be of help, please don't hesitate to call me at (302) 540-5373.