Bankruptcy & Foreclosure
I am a single mom and received my foreclosure summons in Sept. I have looked at filing Ch. 13 bankruptcy, but feel money would be too tight and I would end up in trouble again. I have looked at Ch. 7 and I qualify, but am very afraid of foreclosure because I have an ex-husband threatening to take the kids away if I "lose" the house and because of all the publicity and the long lasting credit hit. I have looked at a short sale, but do not understand all of it. I don't know if I can file a Ch. 7 and try to do a short sale to avoid foreclosure, then if it doesn't sell it just goes to foreclosure anyway? I am aslo afraid of things I am reading about money I will still owe even if I do Ch. 7 and foreclose or do a short sale. I have looked at information about these topics separately, but is there a combination that might work best? Can I short sale and file Ch. 7? I am very confused. I would just like to get out from under this house.