Centerville, GA Bankruptcy Law Firms & Lawyers

If you did not reaffirm your mortgage, your liability for it is discharged so the lender cannot come after you personally, although it can foreclose on the property. You can wait until a foreclosure occurs before moving, or you can discuss a deed in lieu of foreclosure with the lender, which may (in some cases) give you some financial assistance in moving (sometimes called "cash for keys") in order to save on foreclosure costs. There's no benefit to you in participating in a short sale, unless the lender is willing to allow you to stay there, rent-free, to allow time for the short sale. In any event, if you are giving up the house, there's no point in making any further payments. Save your money to cover moving costs, first & last on a rental, etc.

I assume you are speaking of filing Chapter 7. I would suggest contacting an attorney to see what type of payment plans they offer and/or discounts they may offer for those in your situation. Most attorneys will work with clients.