foreclosure vs bankruptcy in PA - best choice?
Posted by gina on June 16, 2005 at 17:53:40:I own a home in Pennsylvania and am now unable to make the mortgage payment due to a death in the family. I am not yet behind on any payments but soon will be. So I have a little time to decide my course of action. My question is - Which will have a worse and longer lasting effect on my credit a foreclosure, deed in lieu of or a bankruptcy? I have no other debt other than a car loan. But I owe more on the mortgage than the house is worth. Selling the house will not cover the mortgage. Any helpful advise would be greatly appreciated.
- preforeclosure short sale - SpecialCareRealtor 06:28:24 06/17/05
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Comments:: I own a home in Pennsylvania and am now unable to make the mortgage payment due to a death in the family. I am not yet behind on any payments but soon will be. So I have a little time to decide my course of action. My question is - Which will have a worse and longer lasting effect on my credit a foreclosure, deed in lieu of or a bankruptcy? I have no other debt other than a car loan. But I owe more on the mortgage than the house is worth. Selling the house will not cover the mortgage. Any helpful advise would be greatly appreciated.