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: : Just bought a house 2 months ago. Wife just lost her job, no way we can cover expenses..so we are facing bankruptcy, foreclosure or both.
1.Is bankruptcy better than foreclosure? or does it matter.

2. what's the quickest way to just get out from under the house? I don't want to just walk away...

thanks

You could:
1)Move into the basement and rent out the entire upstairs to cover your mortgage
2)lease option the home and take the option money to rent a place until you are back on your feet
3)Move into the basement and rent individual rooms upstairs
4)Move out and rent the basement as an apt. and the upstairs as individual rooms
Dont give up its harder to declare bankruptcy these days and since you still own the home use it to your advantage. Its your best shot at getting back on your feet.


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