Bankruptcy, what else to do? Any other options to avoid foreclosure?
by lj
hopefully i can make this as short as possible. i was/am facing foreclosure and did what i thought was my only option which was file bankruptcy chapter 13 (had already filed 7 before) lender was unwilling to help. ok so i thought things were going ok, was paying my tustee it's been over a year and my payments have increased about $700 already because my mortgage has an adjustable rate. i was told it will continue to increase every 6 mos which i wont be able to afford with there being no cap on it. i was unable to refinance due to my credit. now i dont know what to do i have a nice income which has probably doubled since i originally bought my house. the mortgage co wont even speak with me now since i'm in the middle of bankruptcy. if i cant afford to pay the trustee what happens to my bankruptcy case is it dismissed or am i still locked in for the 5 yrs? do i still have the option to sell the house and try to repair my credit? i spoke with one mortgage group who advised me to sell or try to get my fiance qualified to buy the house or any home for that matter. problems are my fiance doesnt make as much and doesnt have any credit, and credit score is low. she has a secured credit card that she has been paying on time for over a year and just opened up another to establish more credt, also has a car that shes been paying on for about 8 mos. so she's working on building her credit but that doesnt fix the problem. we would really like to be able to qualify for a home together but it seems if i have already messed up those chances.
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