Is your husband terminally ill? Have you gone real estate hunting at the local cemetary? Does he not have life insurance?
Is your husband terminally ill? Have you gone real estate hunting at the local cemetary? Does he not have life insurance?
You may qualify to convert the bankruptcy to Chapter 7 if your income changes that significantly. Consider some advance planning via a consultation with your bankruptcy lawyer.
Thanks Mr. Knowitall: Unfortunetly my Bankruptcy lawyer is a jerk. Not too willing to answer questions or do anymore work. It's a looong story.
My husband is in good health, he's 62 and I'm 55 so it's just something I have been thinking about and if he dies, (anyone can be hit by a bus....) there is no way I will be able to make the monthly payments.
Yes he has life insurance but we are trying to find out how much he has. I realize we should know, but he's retired from the Gov't and has to go throught channels to find out. (he's also ADD so he keeps forgetting) and it never occured to him that I would be in dire straights trying to keep up payments. There are also a lot of back taxes involved.
If I converted to Chap 7, would I be able to keep the house? - right now mortgage payments are made through the trustee.