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|User Info||Bank insider: overdrafts up, cash out, auto loans late...; entered at 2007-12-04 13:53:44|
Pika in your case can you or your husband have their name legally removed from the title of the house you own? Thus leaving one of you with good credit. Seems like a nice fire would also solve all your problems.|
CK, walking away and sending in the keys may be better in some cases than declaring BK, with the new BK laws you could be put on the hook for scheduled payments on a house that is worth less than you are paying for it. The Credit industry wrote that terrible law, and it would be poetic justice for it to come back and bite them in the ass. It takes away all there power when they say "pay up or we will take your house", you say "here take it, I don't want that piece of **** anymore" wha! "we don't want your house is there anyway we can get you to stay?"
If KD is right the last thing that anyone would want would be to add more debt in a deflationary environment. Any debt that you take out could quickly leave you up side down, paying on something that grows more and more worthless.