Loans, Debt & Credit - View Single Post

canasta5616 · 06-12-2008, 06:23 AM

To update, we are in the process of filing Chapter 13 to help us save the rehabbed house (that we are living in - due to be taken 6/23/08) and give us some breathing room. Today, the buyer's realtor of our main home has pushed the closing from 6/16/08 to 6/30/08, apparently they don't have all the docs in place with their lender. If we file now, will we have to wait for a judge to grant permission to sell? This could be after the 30th. Is there a chance that the judge won't grant this? Do we take a chance and let the buyers move in on the 30th, then close later? I'm afraid that this news could make them "walk". Should we just walk away from the rehabbed house and let the sale of the main home go through on the 30th and then look for a place to live? I imagine that we will struggle to find a place to live if our credit is pulled. What a mess!! I am trying to keep a positive outlook on this and not go down without a fight but I feel as if we keep taking two steps back and none forward. Any advice?

06-12-2008, 06:23 AM	#5 (permalink)
canasta5616 Member Join Date: May 2008 Posts: 8 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Hard Money Trap To update, we are in the process of filing Chapter 13 to help us save the rehabbed house (that we are living in - due to be taken 6/23/08) and give us some breathing room. Today, the buyer's realtor of our main home has pushed the closing from 6/16/08 to 6/30/08, apparently they don't have all the docs in place with their lender. If we file now, will we have to wait for a judge to grant permission to sell? This could be after the 30th. Is there a chance that the judge won't grant this? Do we take a chance and let the buyers move in on the 30th, then close later? I'm afraid that this news could make them "walk". Should we just walk away from the rehabbed house and let the sale of the main home go through on the 30th and then look for a place to live? I imagine that we will struggle to find a place to live if our credit is pulled. What a mess!! I am trying to keep a positive outlook on this and not go down without a fight but I feel as if we keep taking two steps back and none forward. Any advice?