This is a bit complicated... I'm pretty sure I know what I need to do. I'm just trying to figure out some of the details now. Any help/opinions would be great.
My home is in Nevada but I live in Oregon. I had to move last fall and decided to try and rent the house to stay current. Since then I've realized that the house is worth about half of what I owe on it and think it's insane to pay the full amount, and I can't afford it anyway.
My renters pay me $1000 a month but mortgage is $2300. I could pay the first every other month with the rental money.
I just found out that I will most likely be moving back to Nevada in about a year. If I could stay in the house for a while for $1000/month that would be great, if not that's okay too.
I'm trying to figure out what to do with the rental money. Should I use it to pay the first? If I keep current on the first will nothing really happen?
If I file BK but stay current on the first.... can I move back in when I move back to Nevada? I know that it would only be temp but I figured that I will have to pay for a rental somewhere anyway... so why not there?
I'm so confused!