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advice from my lawyer

DH and I went to see a lawyer to see if there were any options for us with regards to our housing situation. (ie, we are ~200k upside down between two houses.) He painted a very bleak picture (what did I expect). His advice was to file for chapter 7 bankruptcy. Which by the way our family would have to be bigger and we would have to make less income to qualify. 

So he encouraged me to get knocked up and quit my job. And oh yeah, make sure it's twins. 

 Thanks, sir, this was very helpful.... 

Re: advice from my lawyer

  • Well, that's great advice. Indifferent
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  • Awesome advice. Indifferent
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  • I'm so sorry, Leah. I can't imagine being in that situation, so far upside down. Can you sit tight and wait for the market to recover? Are you renting one of the houses? Ugh, that completely sucks... but I do commend you for not walking away from them like it seems so many people are, and making the economy even worse :(  I'd imagine it would be a nightmare to your credit if you do. 

     

    Love 9.3.03 Marriage 12.1.07 Baby Carriage 8.3.11
  • Indifferent Advice like that is one of the reasons our country is in this crisis to begin with.
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  • Wow, can I get his number?

    All joking aside, I'm sorry you're in that situation. I know it must be difficult. I hope that you guys can find a reasonable solution.

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  • I'm sorry your having to deal with this. CD, I agree.
  • Sorry Leah. I feel your pain. We are not quite that upside down but I hate that we are stuck in a 2 bedroom house for who knows how long.
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  • I love it when men offer that as serious advice. Once a loan officer told me to borrow the down payment from my parents. Seriously?
  • Misery loves company, right?  In that case, I totally hear you.  My house in WI is so upside down, I could buy another house with the amount I would lose if I sold it.  My solution was to rent it out.  I'm still taking a bit of a loss every month on my mortgage, but it is better than having to come up with the money to sell it or take the hit to my credit.


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  • We are renting the second house out at about a $500 a month loss. But, that's better than $1500 a month. I am so thankful for my renters.
  • Oh good!  I'm glad you have good renters too.  I'm on contract #4 and I FINALLY got someone in there who doesn't suck at life.
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  • I still think it's ridiculous that people like you who have been responsible homeowners don't get any help and slackers do.  Not fair.
    Mungee and Me
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    How is it that my BABY is going to be 3?
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    BFP-2/25/11; 8 Wk U/S-3/25/11-No HB, measured 6.5 wks; D&C
  • imageMrs_W_Pookie:
    I still think it's ridiculous that people like you who have been responsible homeowners don't get any help and slackers do.  Not fair.

    Me too.

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