From the monthly archives:
It costs money to declare bankruptcy. Seems backwards, doesn’t it? You have no money, which is why you’re filing for bankruptcy, yet it costs money to file bankruptcy. There really is not such thing as a free lunch! (and Bankruptcy is no free lunch, let me tell you) Bankruptcy Costs The us bankruptcy courts have [...]
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After short selling my home last year, I faced a pretty big problem: Where the crap am I gonna sleep? While I avoided the house going to auction, I lost my place to stay. I was lucky enough to still have an office floor to sleep on, and a car that I stayed in a [...]
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A short sale will negatively affect your credit, but not nearly as much as a foreclosure or deed-in-lieu ~ read this entire article for details on each alternative. A short sale simply means that the amount of the mortgage balance owed is greater than the current market value of your home. Homeowners who are in [...]
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Losing your home to foreclosure due to an inability to keep up with your monthly mortgage payments is one of life’s most unpleasant experiences. It is also an event that keeps on affecting you long after your home is history by devastating your credit score. Regrettably, most people cannot be 100% sure that they will [...]
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Homeowners facing foreclosure often have the option of selecting a short sale or a deed-in-lieu of foreclosure as a possible solution to their financial difficulties. But are they? Which is the best choice? Like most alternatives, both have their upsides and their downsides. Understanding these options is the only way to make a truly informed [...]
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—–>Check out my post on how I successfully short sold my house
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I had my “meeting of creditors” today in US bankruptcy court. One word to describe the whole thing? Awkward You’re in this room with a dozen other “debtors” and the awkwardness is as thick as pea soup. I think my meeting with the trustee went fine, in fact, it was not nearly as stressful as [...]
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As a dumb 20-something, I day traded away over a quarter-million dollars and found myself deep in debt.
This blog documented my journey through bankruptcy, a short sale, living in my office and more. Now it's a resource for thousands of people in trouble every day.
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