Loan with Chase. Unemployed and divorced. What are my options?

[ls0777]

Hi there. I'm new to the forum, and I'm currently looking around at all the information.

Here's my situation. I've been unemployed for months now and am divorced. I do get a couple of temp. jobs throughout the unemployment but have been unable to find anything permanent. My ex husband is the main loan borrower, and I'm the co-borrower. In our divorce agreement, he agreed to relinquish all rights to the home in lieu of paying child support or alimony. We parted amicably enough.

I owe less than my home value. I did not buy this home as an investment. I want to stay in this home with my kids, since it's very close to their schools and the metro. So I'm wondering instead of selling, moving, if I have other options? Thank you so much in advance for all suggestions and advice.

Below is concrete information on our situation.



Mortgage with Escrowed Property Tax + Home Insurance (Chase): $1,126
Further Details:
- Principal Balance: $109,280
- Escrow Balance: $2,667
- Interest Rate: 6.875%
- Principal & Interest: $876
- Escrow Payment: $250

Current Home Value: $362K (Zillow estimate)

Utilities
- Water: $31
- Gas: $125
- Electric: $56

Cell Phone: $48

Misc. Expenses (incl. food, gas, etc....): $266

Car insurance (Full coverage for '08 HOnda Accord with $500 deductible. Erie.): $67

-------
Total: $1719

Occupation: Cashier. $15.57/hr. $623/wk. $2491/mo. before Tax.

Unemployment: $334/wk. or $1,336/mo. for 5 more months. before Tax.

Savings: $3,475
Checking: $5,404

[Evan Bedard]

Hi ls077 welcome and thank you for joining the forum.

Occupation: Cashier. $15.57/hr. $623/wk. $2491/mo. before Tax.

First off you no longer recieve income from this job correct?

[ls0777]

Yes. That is correct and thank you for the welcome!

[ls0777]

Also, correction to the first post. Car is '07. Not '08.