Things have been tough and mortgage is one of the only things we have consistently paid. We are far from underwater, but we (or my wife) probably are filing Chapter 7 in January, which will not affect the house.
My brother-in-law just came out of the other end of 18 mos. of non-payment on his mortgage with all those payments forgiven (not added to what is now owed), no penalty and a reduced monthly amt. If he pays on time for 3 mos., their new deal becomes permanent.
It sure would be helpful to pull out of our mess by using the monthly mortgage amount for a few months to help get cash flow in the black (with or without ch. 7). How unrealistic is it to think/hope we could also end up with a few months forgiven when we can get back on track (hopefully less than a year)?
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