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Heatherman Blog >> JAN. 2010
A Chapter 7 Child? Not going there...

 Met a client - no, I do not recommend having another child just to have enough members in the household to meet the income test in a Chapter 7 bankruptcy.  I would never make such a recommendation.  If you want to have another child for other reasons, go for it.  What if the child is not born at the time you file the bankruptcy?  I'm not going there.



Occupy your house at the time foreclosure commences

 I just got done meeting w/a client who can't get her loan modification accomplished on her own.  The lender keeps losing her file and she keeps re-faxing it.  They always ask her the same questions again and again.  She wanted to simply move out of the house, live with a friend and let the house go to foreclosure.  I advised her that under Oregon law, if she does not occupy the house at the time foreclosure commences she could be susceptible to paying the deficiency, or the difference between what she owes and what the house sells for.  She will now remain in possession to comply with the law and minimize her chances of paying that deficiency.