My question involves collection proceedings in the State of: Indiana
Ok, so assume I can inherit a house if I pay off the mortgage. My credit is not good enough to assume the mortgage that is left. Assume I can only pay part of the mortgage with the life insurance money. I need the rest to live off of until all this is settled and I have a good job again. Say my neighbor is an investor and close friend. Say he wants to buy my home from us and let us sublease to pay him back for the portion of the mortgage he paid off.
It is not that we are trying to fraud anyone. It's just that the timing of my mother's death coincides with my bankruptcy discharge, unemployment, and subsequent default on almost all my student loans (250K worth).
Sorry for the multiple posts, but I am torn up inside over this. I can't sleep and if I do, I have nightmares about my future. I see why people commit suicide, flee the country, and fake their own deaths over debt. When you see that even if you work hard and save money to put yourself in a better position that they will still get that money, it makes life not worth living. I know we all have struggles and challenges. But I know I can say I've had more than my fair share of crap in life, and I feel entitled to a certain level of security as long as I am doing what I can. The laws seem to agree, but there aren't enough provisions in the law to protect people like me. I have to fight for it. And I can't afford it. I am alright with a lifetime garnishment, as long as they leave me enough to have a roof over my head, a decent car, and food! But if I don't own my residence, I will be homeless once I lose my job.
It's a pretty bad situation when you figure you can make more money and be financially more secure by having kids, getting a lousy wage job, getting welfare and child support, and Section 8.

