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Your Choices For The Underwater House

By Cathy Moran

Gerri Detweiler kicks off a six part series on dealing with a home worth less than you owe at Credit.com. Check her out this week for another point of view on this oh-too-common problem.

I’m fond of her piece especially since she includes my lament that I spend my days talking people out of houses. My rallying cry, so often, is “live there payment free until the sale.” My input on underwater houses and the bankruptcy option is slated to be the last article in the series.

 

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  • Foreclosure: The Unseen HazardsForeclosure: The Unseen Hazards
  • Claim Tax Deductions Lurking In Your Chapter 13Claim Tax Deductions Lurking In Your Chapter 13

Filed Under: Real property & mortgages

About Cathy Moran

I'm a veteran bankruptcy lawyer and consumer advocate in California's Silicon Valley. I write, teach, and speak in the hopes of expanding understanding of how bankruptcy can make life better in a family's future.

Bankruptcy Basics

About The Soapbox

You’ve arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said “try”).

Here, I allow myself to tell stories and express strong opinions. We dig deeper into how to consider bankruptcy and navigate a bankruptcy case.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

How Bankruptcy Works

What Happens To Your Bank Account in Chapter 13

Those considering filing a Chapter 13 bankruptcy worry about "what happens to my bank account?" Will the trustee take all the money? How do I pay my living expenses after I file? The short answer is: nothing changes. The account remains yours and available for all the expenses of day to day living. Because, … Read more

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