AboutDavid Expertise I can help answer questions on how to raise credit scores. I can educate you on all areas of credit scoring. My specialty is helping people recover from Bankruptcy and low credit scores quickly.
Experience I own a credit repair company and have helped hundreds of my clients raise their scores to purchase homes, cars and qualify for other loans.
Education/Credentials My background is in Financial planning.
Question I have a mortgage on two homes in a small town and have recently moved away to a more economically sound area and my family and i are now renting an important and wish that the other properties did not exist. I owe 18k on one property and it is worth significantly less, the other i owe 33k along with a 6k lein on the property that i owe the previous owners, this property is worth equal or more than what is owed due to significant remoldeling, both properties are mortgaged by the same bank. Other notes on my financial background include a credit line on excercise equipment which i owe 3k and the payment is approaching 90days past due if not more and amazingly i was denied approval for the line of credit but somehow the equipment showed up days later and the first bill there after. thats been $100a month for the last three years and i still owe more than the original $2900 for the equipment. I do not wish to retain any of the property i have mentioned, all i want to do is forget about that life that town and those properties and move on, i don't know the first thing about any of the financial jargon or who to talk to, i just know it would be a relief to start clean with my new job, in my new apartment, in my new town and forget about that old life back home. but from what i can gather bk or foreclosure is imminent so which would be best? thanks for any adviced recevie
Answer Hi James,
It sounds like you really need to talk to a local BK attorney. The foreclosure will still leave you with a lot of debt that will haunt you.
To start over you need to fix your credit as well as BK, you should talk to Carmen at Financial Scoring Solutions for help with that. Go to www.financialscoringsolutions.com to get started.
