Reorganization Or Bankrupcy

[cristinaperkel@gmail.com]

Well I HAVE BEEN HOLDING ON FOR TOO LONG SAYS A REALTOR AND A LAWYER. I HAVE 8 RENTALS IN FLORIDA. THE VALUES HAVE DROPPED BELOW WHAT I OWE, AND I HAVE 2000/MONTH NEGATIVE CASH FLOW UPFRONT, 4000/MO MORE IN THE BACK, NON-ESCROWED LOANS.

THE QUESTION IS SHORT SELL? CHAPTER 7 OR 11?

I AM NOT A QUITTER BUT I DONT SEE A LIGHT AT THE END OF THE TUNNEL RECENTLY. IF I QUIT PAYING MY MORTGAGES, WHAT DO I DO WITH THE RENTAL INCOME?


I WENT INTO HEAVY CREDIT CARD DEBT TO KEEP GOING, I HAVE ALWAYS PAID MY BILLS BEFORE NEVER EVER LATE FOR 50 YEARS!

THE STRESS WAS KILLING ME AND MY FAMILY, BUT I RECENTLY CALMED DOWN. A LAWYER RECOMMENDED DELAYING FORECLOSURES AND TRYING TO SHORT SELL, AND NEGOTIATE WITH A OTHER LENDERS.

WHATS GOING TO HAPPEN WHEN AND IF I STOP PAYING THOSE MORTGAGES?

THANKS
SWALLOWED BY REAL ESTATE COLLAPSE

[cristinaperkel@gmail.com]

I Forgot To Say Negative Cash Flow Is Exploding In September As Lenders Impose Escrow Impound Accounts For An Additional 3 To 4,000/month! And 3 Arm Adjust!