Better to short sell house or forclose before filing ch. 7?

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Bankruptcy Chapter 7 and Chapter 13

Better to short sell house or forclose before filing ch. 7?

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Posted: Mon Jan 05, 2009 10:05 pm Subject: Better to short sell house or forclose before filing ch. 7?

I plan on filing ch. 7 in three months. I'm trying to sell my primary residence. The lender has agreed to a short sale, provided they reserve the right to collect on the unpaid HELOC balance. Will this get wiped out when I file ch.7? My attorney said I could just let it foreclose. That sounds worse. Is it? _________________ Register today to cash in debtcc points.

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