Reposession after bankruptcygreenspun.com : LUSENET : Repossession : One Thread
Situation: My parents have offered my husband and i their home, since they will be building a smaller home. We will not have to go through any financial institutions since it will be like a rent-to-own type agreement between us and my parents.
But we have a mobile home, that we are afraid we wont be able to sell and have moved, due to what we owe on it. Also we filed bankruptcy, and have been discharged for a year, but choose to keep the house. If we cant sell our home for what we owe, can we have it repossesed, and how will that affect us after this bankruptcy? Our credit is already bad, and we will be renting from my parents. Nor do we "plan" on purchasing a home in the next 20 years. So, is it an option or are there other factors to consider?
-- Jennifer Hargrove (email@example.com), March 09, 2004