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New house before or after bk?

(4 posts)
  • Started 3 years ago by poolman8531
  • Latest reply from Oh Really

  1. poolman8531
    Inactive

    Spouse lost job and we would like to downsize. Can we sell our house and buy a smaller one, then file or file first? Wisconsin
    Posted 3 years ago #

  2. Oh Really
    Member

    Buy first if you can 'still' qualify.  Hurry up though...  ;)
    Posted 3 years ago #

  3. poolman8531
    Inactive

    Thanks! Hurry because of changes in law?
    Posted 3 years ago #

  4. Oh Really
    Member

    Hurry because your 'credit' will be worse after filing, and you could become 'handcuffed' (blackballed).  Sell home, take 'cash' and buy downsized home before no one will make you another home loan unless you want to pay a gazillion in interest rates.  :)

    p.s. They've been talking about law changes for forever.  Still hasn't happened...Country is is in too much debt right now.  Law changes would cost the country more in the long run at this point.  Higher insurance claims (psych help, etc.).  Personally speaking...everybody in the U.S. should file bankruptcy yesterday.
    Posted 3 years ago #

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