http://www.oklahoma-bankruptcy-attorney.com/foreclosures/is-it-time-to-consider-walking-away-from-your-underwater-house/ Oklahoma's trusted source for accurate and reliable information about consumer bankruptcy. Written by Tulsa bankruptcy attorney Dan Nunley who helps Oklahoma consumers and small business owners get relief from serious debt problems through Chapter 7 and Chapter 13 bankruptcy. Fri, 03 Feb 2012 11:22:21 +0000 hourly 1 http://wordpress.org/?v=3.3 http://www.oklahoma-bankruptcy-attorney.com/foreclosures/is-it-time-to-consider-walking-away-from-your-underwater-house/comment-page-1/#comment-3952 Russ DeMott Wed, 12 May 2010 12:05:49 +0000 http://www.oklahoma-bankruptcy-attorney.com/?p=2496#comment-3952 Great post, Dan. Another thing people should consider is that foreclosure is worse than bankruptcy. If the home is surrendered in bankruptcy and the debt discharged, the subsequent foreclosure will not appear on the home owner's credit report. There's a longer wait to obtain another mortgage post-foreclosure as opposed to post-bankruptcy. Ultimately, however, folks need to just deal with the reality. And sometimes letting the house go and not filing bankruptcy may be a good option (for example is there's little or no other debt). Great post, Dan. Another thing people should consider is that foreclosure is worse than bankruptcy. If the home is surrendered in bankruptcy and the debt discharged, the subsequent foreclosure will not appear on the home owner’s credit report. There’s a longer wait to obtain another mortgage post-foreclosure as opposed to post-bankruptcy. Ultimately, however, folks need to just deal with the reality. And sometimes letting the house go and not filing bankruptcy may be a good option (for example is there’s little or no other debt).

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