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The Watercooler
What is the right thing??
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<blockquote data-quote="flutterby" data-source="post: 337510" data-attributes="member: 7083"><p>Honestly, given the experience you've had in your county, I would go for Plan B to start with. </p><p></p><p>Selling a house in this market, as you already know, is next to impossible. Also, what you've put into your house financially, doesn't mean as much since house prices have fallen so drastically. Your credit is already shot, so a foreclosure really isn't going to hurt it and bankruptcy will give you a clean slate. You can buy a house again 2 years after you file bankruptcy, on average.</p><p></p><p>We don't have a crystal ball, unfortunately. You can never know if A is better than B or vice versa, but you're obviously having doubts over Plan A, so trust your gut.</p></blockquote><p></p>
[QUOTE="flutterby, post: 337510, member: 7083"] Honestly, given the experience you've had in your county, I would go for Plan B to start with. Selling a house in this market, as you already know, is next to impossible. Also, what you've put into your house financially, doesn't mean as much since house prices have fallen so drastically. Your credit is already shot, so a foreclosure really isn't going to hurt it and bankruptcy will give you a clean slate. You can buy a house again 2 years after you file bankruptcy, on average. We don't have a crystal ball, unfortunately. You can never know if A is better than B or vice versa, but you're obviously having doubts over Plan A, so trust your gut. [/QUOTE]
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What is the right thing??
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