Yes, we think it should be considered a T intersection, regardless of how many homes are on the other road...even though only 9 homes are on the intersecting road it connects to another road which could add to traffic that goes through the T intersection.... more
If a bk and foreclosure is the only realistic path starring at you here is some food for thought.
As you stand now your credit must be bad and your score low. By doing nothing it will stay that way or get worse. If there is no other way out your choice is simple. Many people don't totally understand credit scoring and modeling. I am not suggesting you choose this route and I offer up no legal advice but here is a fact.
The very first day after a bk and foreclosure hits your credit report your score will begin to improve.
YES - it will sink into the 400's or low 500's, but it seems it is inevitable anyways? By filing a bk you essential are wiping the boards clean. The downside is you start with a very low score and major dings on your credit. But you can start to rebuild from day one. Responsible borrowing is not paying late. Attempt to get a secured credit card, even if it is only a $200 credit limit. Charge $50 a month and pay it off every month. You only get this one chance so do not be late on any payments.
As for getting a loan, at this time, not a chance. But you won't qualify anyway with your credit. Millions of consumers are in your situation and the government is talking about a lot of new programs to save American homes from foreclosure. If you can hang in there that may be your best choice.
I am sure you tried already but have you attempted a loan modification?
Did you fall behind because of loss of income?
Are things better for you now?
Could you keep up with the mortgage if the lender simply gave you a forbearance and put the past due at the end of the loan?
Every situation is different. The best advice I can offer is to understand all your options.... more